Reliance Steel & Aluminum (RS) Set to Announce Earnings on Thursday

Reliance Steel & Aluminum (NYSE:RS) will release its earnings data before the market opens on Thursday, October 24th. Analysts expect Reliance Steel & Aluminum to post earnings of $1.99 per share for the quarter. Reliance Steel & Aluminum has set its Q3 2019 guidance at $1.90-2.00 EPS and its Q3 guidance at $1.90-2.00 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.60 by $0.11. Reliance Steel & Aluminum had a net margin of 5.22% and a return on equity of 12.85%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the company earned $3.10 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. On average, analysts expect Reliance Steel & Aluminum to post $9 EPS for the current fiscal year and $8 EPS for the next fiscal year.

NYSE:RS opened at $99.65 on Wednesday. Reliance Steel & Aluminum has a one year low of $68.62 and a one year high of $105.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.08 and a current ratio of 4.42. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.22 and a beta of 1.30. The firm’s fifty day moving average is $100.20 and its two-hundred day moving average is $94.23.

In other Reliance Steel & Aluminum news, VP Arthur Ajemyan sold 3,200 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $101.61, for a total value of $325,152.00. Following the completion of the transaction, the vice president now owns 7,544 shares in the company, valued at $766,545.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.43% of the company’s stock.

Several research firms have commented on RS. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a “sell” rating to a “hold” rating and set a $103.00 price target on the stock in a report on Friday, October 4th. Citigroup set a $104.00 price target on shares of Reliance Steel & Aluminum and gave the company a “hold” rating in a report on Friday, July 26th. Longbow Research raised shares of Reliance Steel & Aluminum from an “underperform” rating to a “neutral” rating in a report on Friday, September 6th. ValuEngine lowered shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Cowen set a $108.00 price objective on shares of Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $99.33.

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

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

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