Brokers Set Expectations for Reliance Steel & Aluminum Co.’s Q4 2017 Earnings (RS)

Reliance Steel & Aluminum Co. (NYSE:RS) – Investment analysts at KeyCorp boosted their Q4 2017 EPS estimates for Reliance Steel & Aluminum in a report issued on Thursday. KeyCorp analyst P. Gibbs now anticipates that the industrial products company will earn $1.04 per share for the quarter, up from their previous estimate of $0.98. KeyCorp currently has a “Buy” rating and a $95.00 target price on the stock.

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

Several other research firms have also recently issued reports on RS. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Monday. Bank of America set a $97.00 price target on shares of Reliance Steel & Aluminum and gave the company a “buy” rating in a report on Monday. ValuEngine upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Jefferies Group restated a “hold” rating and issued a $72.00 price target on shares of Reliance Steel & Aluminum in a report on Friday, October 6th. Finally, Cowen restated a “buy” rating and issued a $92.00 price target on shares of Reliance Steel & Aluminum in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Reliance Steel & Aluminum currently has an average rating of “Buy” and an average price target of $83.50.

Shares of Reliance Steel & Aluminum (NYSE:RS) opened at $90.83 on Friday. The stock has a market cap of $6,620.00, a PE ratio of 17.84, a price-to-earnings-growth 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. Reliance Steel & Aluminum has a 52-week low of $68.46 and a 52-week high of $90.85.

Several hedge funds have recently added to or reduced their stakes in RS. Schwab Charles Investment Management Inc. boosted its holdings in shares of Reliance Steel & Aluminum by 4.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 261,407 shares of the industrial products company’s stock valued at $19,034,000 after acquiring an additional 12,026 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Reliance Steel & Aluminum by 15.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 382 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Reliance Steel & Aluminum by 1.2% in the 2nd quarter. Swiss National Bank now owns 121,300 shares of the industrial products company’s stock valued at $8,832,000 after acquiring an additional 1,400 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Reliance Steel & Aluminum by 61.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 598,911 shares of the industrial products company’s stock valued at $43,607,000 after acquiring an additional 227,881 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Reliance Steel & Aluminum by 151.1% in the 2nd quarter. Franklin Resources Inc. now owns 285,300 shares of the industrial products company’s stock valued at $20,773,000 after acquiring an additional 171,700 shares during the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were 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 in the company, valued at approximately $1,266,810.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.18% of the company’s stock.

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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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