Reliance (NYSE:RS) Issues Quarterly Earnings Results, Misses Expectations By $0.52 EPS

Reliance (NYSE:RS) posted its quarterly earnings data on Wednesday. The industrial products company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.74 by ($0.52), Zacks reports. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.04 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. Reliance updated its Q1 2025 guidance to 3.300-3.500 EPS.

Reliance Stock Performance

Shares of Reliance stock traded up $9.63 during trading on Thursday, hitting $303.25. 79,597 shares of the stock were exchanged, compared to its average volume of 401,569. The stock has a market capitalization of $16.41 billion, a price-to-earnings ratio of 16.69 and a beta of 0.91. The company has a fifty day moving average price of $281.72 and a 200-day moving average price of $289.07. Reliance has a 1-year low of $256.98 and a 1-year high of $342.20. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Reliance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.20 per share. This is a positive change from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a dividend yield of 1.58%. Reliance’s payout ratio is currently 24.16%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RS. The Goldman Sachs Group began coverage on shares of Reliance in a research report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective on the stock. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. KeyCorp lowered their price target on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets lowered their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $328.17.

Insider Transactions at Reliance

In related news, CEO Karla R. Lewis sold 3,892 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the transaction, the chief executive officer now owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by company insiders.

About Reliance

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.