Reliance Steel & Aluminum (RS) Issues Q1 Earnings Guidance

Reliance Steel & Aluminum (NYSE:RS) issued an update on its first quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.90-2.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.80.

Reliance Steel & Aluminum (NYSE:RS) traded up $3.71 on Thursday, hitting $92.30. 357,971 shares of the stock traded hands, compared to its average volume of 408,798. Reliance Steel & Aluminum has a 12-month low of $68.46 and a 12-month high of $94.79. The company has a current ratio of 4.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $6,292.59, a P/E ratio of 17.44, a P/E/G ratio of 1.47 and a beta of 1.26.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.22. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. research analysts expect that Reliance Steel & Aluminum will post 5.22 EPS for the current fiscal year.

Several equities analysts have recently issued reports on RS shares. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a buy rating to a hold rating in a report on Wednesday, October 18th. Longbow Research upgraded shares of Reliance Steel & Aluminum from a neutral rating to a buy rating in a report on Wednesday, February 7th. Bank of America set a $97.00 price objective on shares of Reliance Steel & Aluminum and gave the company a buy rating in a report on Monday, January 8th. KeyCorp restated a buy rating and set a $84.00 price objective on shares of Reliance Steel & Aluminum in a report on Thursday, December 7th. Finally, ValuEngine upgraded shares of Reliance Steel & Aluminum from a hold rating to a buy rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Reliance Steel & Aluminum has an average rating of Buy and a consensus price target of $83.50.

In related news, SVP William A. Smith II sold 1,123 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $82.69, for a total value 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 filing with the SEC, which is available through this link. 3.73% of the stock is currently owned by corporate insiders.

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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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