Reliance Steel & Aluminum (NYSE:RS) Issues Q3 Earnings Guidance

Reliance Steel & Aluminum (NYSE:RS) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $5.55-5.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.53. Reliance Steel & Aluminum also updated its Q3 2021 guidance to $5.550-$5.750 EPS.

A number of equities analysts have commented on the company. The Goldman Sachs Group assumed coverage on Reliance Steel & Aluminum in a report on Friday, April 9th. They set a neutral rating and a $153.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Reliance Steel & Aluminum in a report on Wednesday, June 16th. They set an overweight rating and a $181.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their target price on Reliance Steel & Aluminum from $152.00 to $162.00 and gave the company a hold rating in a report on Thursday, July 1st. increased their target price on Reliance Steel & Aluminum from $135.00 to $160.00 in a report on Friday, April 23rd. Finally, Citigroup increased their target price on Reliance Steel & Aluminum from $135.00 to $160.00 in a report on Friday, April 23rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Reliance Steel & Aluminum presently has a consensus rating of Hold and an average price target of $154.43.

NYSE:RS opened at $150.84 on Thursday. Reliance Steel & Aluminum has a one year low of $94.47 and a one year high of $181.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 4.35. The firm has a market capitalization of $9.61 billion, a PE ratio of 15.93, a PEG ratio of 1.02 and a beta of 1.06. The firm has a 50 day moving average of $159.71.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, July 22nd. The industrial products company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.37 by $0.69. Reliance Steel & Aluminum had a return on equity of 11.80% and a net margin of 6.33%. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The business’s revenue for the quarter was up 69.3% on a year-over-year basis. As a group, sell-side analysts forecast that Reliance Steel & Aluminum will post 16.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 11th. Investors of record on Friday, May 28th were given a $0.6875 dividend. The ex-dividend date was Thursday, May 27th. This represents a $2.75 annualized dividend and a yield of 1.82%. Reliance Steel & Aluminum’s payout ratio is 35.67%.

In related news, CEO James Donald Hoffman sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $151.57, for a total value of $757,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.43% of the company’s stock.

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 processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, and heavy industries.

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

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