Brokers Offer Predictions for Reliance Steel & Aluminum Co.’s FY2017 Earnings (RS)

Reliance Steel & Aluminum Co. (NYSE:RS) – Research analysts at Jefferies Group raised their FY2017 earnings estimates for shares of Reliance Steel & Aluminum in a note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the industrial products company will post earnings per share of $5.23 for the year, up from their prior estimate of $5.17. Jefferies Group currently has a “Hold” rating and a $72.00 price target on the stock. Jefferies Group also issued estimates for Reliance Steel & Aluminum’s Q4 2017 earnings at $1.00 EPS.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. The business had revenue of $2.45 billion for the quarter. During the same period in the prior year, the business posted $1.25 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the company. Clarkson Capital reissued a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. Zacks Investment Research raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, October 16th. ValuEngine lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. KeyCorp set a $95.00 price target on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Wednesday. Finally, Cowen reaffirmed a “buy” rating and set a $92.00 price target on shares of Reliance Steel & Aluminum in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Reliance Steel & Aluminum has a consensus rating of “Buy” and a consensus target price of $83.50.

Shares of Reliance Steel & Aluminum (NYSE:RS) opened at $90.83 on Wednesday. Reliance Steel & Aluminum has a 1 year low of $68.46 and a 1 year high of $90.85. The stock has a market capitalization of $6,480.00, a P/E ratio of 17.84, a P/E/G ratio of 1.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.06 and a quick ratio of 1.79.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $82.69, for a total transaction of $92,860.87. Following the transaction, the senior vice president now owns 15,320 shares of the company’s stock, valued at approximately $1,266,810.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.18% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of RS. Grove Bank & Trust boosted its stake in Reliance Steel & Aluminum by 117.8% in the 3rd quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 860 shares during the period. Huntington National Bank boosted its stake in Reliance Steel & Aluminum by 267.8% in the 3rd quarter. Huntington National Bank now owns 1,611 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 1,173 shares during the period. Zions Bancorporation bought a new stake in Reliance Steel & Aluminum in the 3rd quarter valued at $144,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Reliance Steel & Aluminum by 633.3% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 2,204 shares during the period. Finally, Private Advisor Group LLC bought a new stake in Reliance Steel & Aluminum in the 3rd quarter valued at $201,000. 82.30% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Brokers Offer Predictions for Reliance Steel & Aluminum Co.’s FY2017 Earnings (RS)” was first posted by Markets Daily and is owned by of Markets Daily. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.themarketsdaily.com/2018/01/12/brokers-offer-predictions-for-reliance-steel-aluminum-co-s-fy2017-earnings-rs.html.

About Reliance Steel & Aluminum

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).

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply