FY2021 EPS Estimates for Reliance Steel & Aluminum Co. Raised by KeyCorp (NYSE:RS)

Reliance Steel & Aluminum Co. (NYSE:RS) – Research analysts at KeyCorp boosted their FY2021 earnings estimates for shares of Reliance Steel & Aluminum in a report released on Monday, November 22nd. KeyCorp analyst P. Gibbs now anticipates that the industrial products company will post earnings of $20.35 per share for the year, up from their prior estimate of $19.00. KeyCorp has a “Overweight” rating and a $175.00 price objective on the stock.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings results on Wednesday, October 27th. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.95 by $0.20. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.75 billion. Reliance Steel & Aluminum had a return on equity of 20.36% and a net margin of 9.16%. The firm’s quarterly revenue was up 84.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.87 EPS.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Reliance Steel & Aluminum from a “strong-buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Friday, September 24th. Deutsche Bank Aktiengesellschaft raised Reliance Steel & Aluminum to a “hold” rating and lifted their price objective for the stock from $165.00 to $175.00 in a report on Wednesday, September 15th. They noted that the move was a valuation call. Wolfe Research assumed coverage on Reliance Steel & Aluminum in a report on Tuesday, November 16th. They set an “underperform” rating and a $158.00 price objective for the company. Seaport Global Securities assumed coverage on Reliance Steel & Aluminum in a report on Monday, August 23rd. They set a “buy” rating and a $165.00 price objective for the company. Finally, The Goldman Sachs Group raised Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating and raised their price target for the stock from $162.00 to $190.00 in a research report on Wednesday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $172.89.

Reliance Steel & Aluminum stock opened at $161.78 on Thursday. The company has a current ratio of 4.25, a quick ratio of 2.39 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $151.08 and a two-hundred day moving average of $154.87. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of 9.32 and a beta of 1.01. Reliance Steel & Aluminum has a twelve month low of $114.26 and a twelve month high of $181.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 3rd. Stockholders of record on Friday, November 19th will be given a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, November 18th. Reliance Steel & Aluminum’s dividend payout ratio is currently 15.84%.

In related news, CEO James Donald Hoffman sold 5,000 shares of Reliance Steel & Aluminum stock in a transaction on Wednesday, October 6th. The stock was sold at an average price of $141.43, for a total value of $707,150.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William A. Smith II sold 5,598 shares of Reliance Steel & Aluminum stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $164.93, for a total value of $923,278.14. The disclosure for this sale can be found here. 3.43% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Trust Co. acquired a new position in shares of Reliance Steel & Aluminum during the third quarter worth about $264,000. Liontrust Investment Partners LLP acquired a new position in shares of Reliance Steel & Aluminum during the third quarter worth about $13,783,000. Centiva Capital LP acquired a new position in shares of Reliance Steel & Aluminum during the third quarter worth about $259,000. Cetera Investment Advisers lifted its stake in shares of Reliance Steel & Aluminum by 7.3% during the third quarter. Cetera Investment Advisers now owns 1,502 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 102 shares in the last quarter. Finally, Cetera Advisor Networks LLC acquired a new position in shares of Reliance Steel & Aluminum during the third quarter worth about $617,000. Institutional investors own 81.57% of the company’s stock.

About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co engages in the provision of metals processing services and distribution of metal products. It offers alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. The company was founded by Thomas J. Neilan on February 3, 1939 and is headquartered in Los Angeles, CA.

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

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