Reliance (RS) Set to Announce Earnings on Thursday

Reliance (NYSE:RS) will post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Reliance to post earnings of $5.48 per share for the quarter. Reliance has set its Q1 guidance at $5.30-5.50 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Reliance (NYSE:RS) last posted its earnings results on Thursday, February 15th. The industrial products company reported $4.73 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.81. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the firm earned $5.87 EPS. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, analysts expect Reliance to post $20 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Reliance Stock Down 1.7 %

Shares of NYSE:RS opened at $314.00 on Wednesday. Reliance has a 12 month low of $229.12 and a 12 month high of $342.20. The company’s 50-day moving average price is $324.81 and its two-hundred day moving average price is $290.87. The company has a quick ratio of 3.23, a current ratio of 5.66 and a debt-to-equity ratio of 0.15. The firm has a market cap of $18.03 billion, a P/E ratio of 13.89, a P/E/G ratio of 5.63 and a beta of 0.87.

Reliance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Reliance’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 1.40%. Reliance’s dividend payout ratio is presently 19.46%.

Insider Transactions at Reliance

In related news, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total value of $13,507,103.62. Following the completion of the sale, the chief executive officer now directly owns 84,534 shares of the company’s stock, valued at approximately $26,963,809.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the completion of the transaction, the chief executive officer now owns 84,534 shares in the company, valued at approximately $26,963,809.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Donald Hoffman sold 40,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total value of $12,918,000.00. Following the transaction, the director now owns 54,042 shares of the company’s stock, valued at approximately $17,452,863.90. The disclosure for this sale can be found here. Insiders have sold 85,996 shares of company stock valued at $27,603,878 over the last ninety days. 0.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp increased their price target on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. BMO Capital Markets raised their target price on shares of Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Citigroup downgraded shares of Reliance from a “buy” rating to a “neutral” rating and raised their target price for the stock from $280.00 to $380.00 in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $365.67.

Reliance Company Profile

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.