Posted by admin on Apr 21st, 2022
Reliance Steel & Aluminum (NYSE:RS – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, April 28th. Analysts expect Reliance Steel & Aluminum to post earnings of $7.10 per share for the quarter. Reliance Steel & Aluminum has set its Q1 guidance at $7.05-7.15 EPS and its Q1 2022 guidance at $7.050-$7.150 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.
Reliance Steel & Aluminum (NYSE:RS – Get Rating) last posted its quarterly earnings data on Thursday, February 17th. The industrial products company reported $6.83 EPS for the quarter, topping the consensus estimate of $5.17 by $1.66. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.83 billion. Reliance Steel & Aluminum had a net margin of 10.03% and a return on equity of 24.80%. Reliance Steel & Aluminum’s revenue was up 86.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.01 EPS. On average, analysts expect Reliance Steel & Aluminum to post $20 EPS for the current fiscal year and $15 EPS for the next fiscal year.
NYSE RS opened at $200.63 on Thursday. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.27. The firm has a market cap of $12.57 billion, a PE ratio of 9.12 and a beta of 0.87. The company has a 50 day moving average price of $184.89 and a 200 day moving average price of $166.32. Reliance Steel & Aluminum has a 52 week low of $135.46 and a 52 week high of $201.39.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, March 10th. This is a positive change from Reliance Steel & Aluminum’s previous quarterly dividend of $0.69. Reliance Steel & Aluminum’s payout ratio is 15.92%.
RS has been the topic of a number of recent analyst reports. BNP Paribas upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 14th. Exane BNP Paribas upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 14th. Wolfe Research raised shares of Reliance Steel & Aluminum from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $156.00 to $159.00 in a report on Friday, January 28th. KeyCorp increased their price target on shares of Reliance Steel & Aluminum from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com downgraded shares of Reliance Steel & Aluminum from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $177.44.
In other news, VP Stephen Paul Koch sold 24,474 shares of the stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $184.59, for a total value of $4,517,655.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Karla R. Lewis sold 69,040 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $175.68, for a total transaction of $12,128,947.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,634 shares of company stock worth $22,319,957. Insiders own 0.78% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of RS. Forum Financial Management LP acquired a new stake in Reliance Steel & Aluminum during the fourth quarter worth about $268,000. Squarepoint Ops LLC acquired a new stake in Reliance Steel & Aluminum during the fourth quarter worth about $878,000. Colony Group LLC boosted its stake in Reliance Steel & Aluminum by 5.2% during the fourth quarter. Colony Group LLC now owns 7,261 shares of the industrial products company’s stock worth $1,178,000 after buying an additional 362 shares during the period. Metropolitan Life Insurance Co NY boosted its stake in Reliance Steel & Aluminum by 8.5% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 11,203 shares of the industrial products company’s stock worth $1,817,000 after buying an additional 875 shares during the period. Finally, Vident Investment Advisory LLC boosted its stake in Reliance Steel & Aluminum by 6.5% during the fourth quarter. Vident Investment Advisory LLC now owns 14,390 shares of the industrial products company’s stock worth $2,333,000 after buying an additional 879 shares during the period. Institutional investors and hedge funds own 83.59% of the company’s stock.
Reliance Steel & Aluminum Company Profile (Get Rating)
Reliance Steel & Aluminum Co 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.
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