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Reliance Steel & Aluminum (NYSE:RS - Get Rating) will announce its earnings results before the market opens on Thursday, July 28th. Analysts expect the company to announce earnings of $9.02 per share for the quarter. Reliance Steel & Aluminum has set its Q2 guidance at $9.00-$9.10 EPS.Investors that are interested in registering for the company's conference call can do so using this link.
Reliance Steel & Aluminum (NYSE:RS - Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The industrial products company reported $8.42 EPS for the quarter, topping the consensus estimate of $7.20 by $1.22. Reliance Steel & Aluminum had a net margin of 10.61% and a return on equity of 27.94%. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the business posted $4.10 EPS. Reliance Steel & Aluminum's revenue was up 58.0% on a year-over-year basis. On average, analysts expect Reliance Steel & Aluminum to post $28 EPS for the current fiscal year and $21 EPS for the next fiscal year. Reliance Steel & Aluminum Trading Down 0.5 %
Shares of Reliance Steel & Aluminum stock opened at $179.61 on Thursday. The company has a current ratio of 3.96, a quick ratio of 2.28 and a debt-to-equity ratio of 0.25. Reliance Steel & Aluminum has a 12-month low of $135.46 and a 12-month high of $211.65. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 6.86 and a beta of 0.81. The firm's 50 day simple moving average is $180.63 and its two-hundred day simple moving average is $179.47. Reliance Steel & Aluminum Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 27th were paid a dividend of $0.875 per share. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $3.50 dividend on an annualized basis and a yield of 1.95%. Reliance Steel & Aluminum's payout ratio is 13.36%. Analysts Set New Price Targets
A number of brokerages have issued reports on RS. Citigroup upped their price target on shares of Reliance Steel & Aluminum from $200.00 to $230.00 in a research note on Friday, April 29th. 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 a "market perform" rating to an "outperform" rating and set a $226.00 price objective on the stock in a report on Thursday, April 28th. The Goldman Sachs Group dropped their price objective on shares of Reliance Steel & Aluminum from $234.00 to $218.00 in a report on Tuesday, July 12th. Finally, BNP Paribas raised shares of Reliance Steel & Aluminum from a "neutral" rating to an "outperform" rating in a report on Thursday, April 14th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $203.50.Insider Buying and Selling
In related news, CEO James Donald Hoffman sold 10,000 shares of the stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $167.78, for a total transaction of $1,677,800.00. Following the sale, the chief executive officer now directly owns 142,738 shares of the company's stock, valued at $23,948,581.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by insiders. Institutional Trading of Reliance Steel & Aluminum
A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in Reliance Steel & Aluminum by 16.4% during the first quarter. State Street Corp now owns 2,549,898 shares of the industrial products company's stock worth $467,524,000 after acquiring an additional 359,364 shares during the period. First Trust Advisors LP raised its position in Reliance Steel & Aluminum by 121.1% during the first quarter. First Trust Advisors LP now owns 515,735 shares of the industrial products company's stock worth $94,560,000 after acquiring an additional 282,481 shares during the period. Renaissance Technologies LLC acquired a new position in Reliance Steel & Aluminum during the first quarter worth $22,389,000. Eaton Vance Management raised its position in Reliance Steel & Aluminum by 497.3% during the first quarter. Eaton Vance Management now owns 58,059 shares of the industrial products company's stock worth $10,645,000 after acquiring an additional 48,339 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Reliance Steel & Aluminum by 15.9% during the first quarter. Goldman Sachs Group Inc. now owns 298,948 shares of the industrial products company's stock worth $54,812,000 after acquiring an additional 41,078 shares during the period. 81.84% of the stock is owned by hedge funds and other institutional investors. About Reliance Steel & Aluminum (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.Further ReadingGet a free copy of the StockNews.com research report on Reliance Steel & Aluminum (RS)The Top-Rated Consumer Defensive Stocks With Yield Above 3.5% How Low Can DocuSign Stock Go?These 3 Mega Caps are Bear Market BuysNeed Yield? Energy Transfer LP Has It And More JB Hunt's Results Beat Forecasts As Transport Industry Continues To Enjoy Strong Results.
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