Reliance Steel & Aluminum (RS) Releases Q1 Earnings Guidance

Reliance Steel & Aluminum (NYSE:RS) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.90-2.00 for the period, compared to the Thomson Reuters consensus estimate of $1.80.

A number of equities research analysts recently commented on the company. KeyCorp set a $95.00 price target on Reliance Steel & Aluminum and gave the stock a buy rating in a research report on Wednesday, January 10th. Zacks Investment Research lowered Reliance Steel & Aluminum from a buy rating to a hold rating in a research report on Monday, January 8th. Bank of America set a $97.00 price target on Reliance Steel & Aluminum and gave the stock a buy rating in a research report on Monday, January 8th. Longbow Research upgraded Reliance Steel & Aluminum from a neutral rating to a buy rating in a research report on Wednesday, February 7th. Finally, ValuEngine upgraded Reliance Steel & Aluminum from a hold rating to a buy rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum presently has an average rating of Buy and a consensus price target of $83.50.

Shares of Reliance Steel & Aluminum (RS) opened at $88.59 on Thursday. The company has a market capitalization of $6,292.59, a P/E ratio of 17.44, a P/E/G ratio of 1.47 and a beta of 1.26. Reliance Steel & Aluminum has a 12-month low of $68.46 and a 12-month high of $92.64. The company has a current ratio of 4.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.22. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.31 billion. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. analysts anticipate that Reliance Steel & Aluminum will post 5.22 earnings per share for the current year.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $82.69, for a total value of $92,860.87. Following the transaction, the senior vice president now directly owns 15,320 shares in the company, valued at approximately $1,266,810.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.73% of the stock is currently owned by company insiders.

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Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

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