Reliance Steel & Aluminum (NYSE:RS) Announces Quarterly Earnings Results

Reliance Steel & Aluminum (NYSE:RS) posted its quarterly earnings results on Thursday. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.44, Briefing.com reports. Reliance Steel & Aluminum had a net margin of 5.22% and a return on equity of 12.85%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm posted $2.42 earnings per share. The business’s revenue was down 9.7% compared to the same quarter last year. Reliance Steel & Aluminum updated its Q4 guidance to $1.60-1.70 EPS.

NYSE:RS opened at $112.84 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.42 and a quick ratio of 2.08. The firm has a 50-day moving average of $100.55 and a 200-day moving average of $94.34. The company has a market cap of $6.61 billion, a PE ratio of 12.62, a PEG ratio of 1.22 and a beta of 1.30. Reliance Steel & Aluminum has a one year low of $68.62 and a one year high of $112.89.

In other news, VP Arthur Ajemyan sold 3,200 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $101.61, for a total transaction of $325,152.00. Following the completion of the sale, the vice president now directly owns 7,544 shares of the company’s stock, valued at $766,545.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.43% of the company’s stock.

Several research firms have weighed in on RS. Citigroup set a $104.00 price target on shares of Reliance Steel & Aluminum and gave the company a “hold” rating in a research note on Friday, July 26th. 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. 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. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $99.33.

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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Earnings History for Reliance Steel & Aluminum (NYSE:RS)

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