Reliance (RS) Set to Announce Earnings on Thursday

Reliance (NYSE:RS) will be posting 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.Parties interested in participating in the company’s 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.81. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the prior year, the company earned $5.87 EPS. The company’s revenue was down 7.6% on a year-over-year basis. 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. The company has a quick ratio of 3.23, a current ratio of 5.66 and a debt-to-equity ratio of 0.15. Reliance has a 52-week low of $229.12 and a 52-week high of $342.20. The company has a 50 day moving average of $324.81 and a two-hundred day moving average of $290.87. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 5.63 and a beta of 0.87.

Reliance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders 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 represents a $4.40 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Reliance’s previous quarterly dividend of $1.00. Reliance’s dividend payout ratio (DPR) is presently 19.46%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CEO Karla R. Lewis sold 650 shares of Reliance stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $322.96, for a total transaction of $209,924.00. Following the transaction, the chief executive officer now directly owns 83,884 shares of the company’s stock, valued at $27,091,176.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Karla R. Lewis sold 650 shares of Reliance stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $322.96, for a total value of $209,924.00. Following the transaction, the chief executive officer now owns 83,884 shares of the company’s stock, valued at approximately $27,091,176.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Arthur Ajemyan sold 3,000 shares of Reliance stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total value of $968,850.00. Following the completion of the transaction, the chief financial officer now directly owns 15,577 shares in the company, valued at approximately $5,030,592.15. The disclosure for this sale can be found here. Insiders have sold a total of 85,996 shares of company stock valued at $27,603,878 over the last three months. Company insiders own 0.69% of the company’s stock.

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.