Reliance Steel & Aluminum (NYSE:RS) is scheduled to post its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Reliance Steel & Aluminum to post earnings of $1.99 per share for the quarter. Reliance Steel & Aluminum has set its Q3 2019 guidance at $1.90-2.00 EPS and its Q3 guidance at $1.90-2.00 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.
Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, July 25th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.11. Reliance Steel & Aluminum had a return on equity of 12.85% and a net margin of 5.22%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the business earned $3.10 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts expect Reliance Steel & Aluminum to post $9 EPS for the current fiscal year and $8 EPS for the next fiscal year.
Shares of NYSE:RS opened at $99.65 on Wednesday. The business has a 50 day simple moving average of $100.20 and a two-hundred day simple moving average of $94.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.42 and a quick ratio of 2.08. Reliance Steel & Aluminum has a 1 year low of $68.62 and a 1 year high of $105.25. The firm has a market capitalization of $6.62 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.30.
Several analysts have recently weighed in on RS shares. KeyCorp lifted their price target on shares of Reliance Steel & Aluminum from $107.00 to $109.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Longbow Research raised shares of Reliance Steel & Aluminum from an “underperform” rating to a “neutral” rating in a research note on Friday, September 6th. ValuEngine downgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Cowen set a $108.00 price target on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Deutsche Bank set a $100.00 price target on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $99.33.
In related news, VP Arthur Ajemyan sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $101.61, for a total value of $325,152.00. Following the completion of the transaction, the vice president now owns 7,544 shares of the company’s stock, valued at $766,545.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.43% of the company’s stock.
About Reliance Steel & Aluminum
Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.
See Also: What is a front-end load?
Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.