Wall Street analysts expect that Reliance Steel & Aluminum Co (NYSE:RS) will report earnings per share of $1.93 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Reliance Steel & Aluminum’s earnings. The highest EPS estimate is $2.05 and the lowest is $1.72. Reliance Steel & Aluminum posted earnings of $2.42 per share in the same quarter last year, which suggests a negative year over year growth rate of 20.2%. The business is expected to issue its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Reliance Steel & Aluminum will report full-year earnings of $9.05 per share for the current financial year, with EPS estimates ranging from $8.40 to $9.40. For the next financial year, analysts forecast that the business will post earnings of $8.38 per share, with EPS estimates ranging from $7.50 to $9.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Reliance Steel & Aluminum.
Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.60 by $0.11. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Reliance Steel & Aluminum had a return on equity of 12.85% and a net margin of 5.22%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.10 EPS.
NYSE:RS opened at $103.00 on Friday. The business’s 50-day simple moving average is $91.83. The firm has a market cap of $6.93 billion, a PE ratio of 11.52, a P/E/G ratio of 1.26 and a beta of 1.31. Reliance Steel & Aluminum has a 1 year low of $68.62 and a 1 year high of $105.25. The company has a current ratio of 4.42, a quick ratio of 2.08 and a debt-to-equity ratio of 0.42.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, August 15th. Reliance Steel & Aluminum’s payout ratio is currently 24.61%.
In other news, VP Jeffrey Wayne Durham sold 2,675 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $92.29, for a total value of $246,875.75. Following the completion of the sale, the vice president now directly owns 8,255 shares of the company’s stock, valued at approximately $761,853.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregg J. Mollins sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $91.81, for a total value of $2,295,250.00. The disclosure for this sale can be found here. Insiders sold a total of 39,008 shares of company stock valued at $3,580,455 over the last three months. Company insiders own 3.43% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of RS. Advisory Services Network LLC raised its stake in Reliance Steel & Aluminum by 982.9% during the 4th quarter. Advisory Services Network LLC now owns 444 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 403 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Reliance Steel & Aluminum by 279.1% during the 1st quarter. Quadrant Capital Group LLC now owns 436 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 321 shares during the last quarter. Parallel Advisors LLC raised its stake in Reliance Steel & Aluminum by 166.0% during the 1st quarter. Parallel Advisors LLC now owns 532 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 332 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Reliance Steel & Aluminum during the 2nd quarter valued at approximately $53,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Reliance Steel & Aluminum during the 1st quarter valued at approximately $60,000. 81.80% of the stock is owned by hedge funds and other institutional investors.
Reliance Steel & Aluminum Company Profile
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.
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