Wall Street brokerages expect Reliance Steel & Aluminum Co (NYSE:RS) to announce earnings per share of $2.70 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Reliance Steel & Aluminum’s earnings, with the highest EPS estimate coming in at $2.75 and the lowest estimate coming in at $2.66. Reliance Steel & Aluminum posted earnings per share of $1.30 in the same quarter last year, which indicates a positive year-over-year growth rate of 107.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 25th.

According to Zacks, analysts expect that Reliance Steel & Aluminum will report full-year earnings of $9.82 per share for the current fiscal year, with EPS estimates ranging from $9.42 to $10.35. For the next financial year, analysts expect that the business will post earnings of $8.57 per share, with EPS estimates ranging from $7.74 to $9.94. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Reliance Steel & Aluminum.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings data on Thursday, July 26th. The industrial products company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.35. The company had revenue of $2.99 billion during the quarter. Reliance Steel & Aluminum had a return on equity of 12.29% and a net margin of 7.55%. The company’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 earnings per share.

Several research firms have recently commented on RS. KeyCorp raised their price target on Reliance Steel & Aluminum from $97.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, June 14th. ValuEngine upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. JPMorgan Chase & Co. raised their price target on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Jefferies Financial Group upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Tuesday, July 10th. Finally, Bank of America lowered Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 price target for the company. in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $96.11.

Shares of RS traded down $0.27 during midday trading on Monday, hitting $85.20. 300,300 shares of the stock were exchanged, compared to its average volume of 500,437. Reliance Steel & Aluminum has a 52-week low of $72.32 and a 52-week high of $97.41. The firm has a market cap of $6.24 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.98 and a beta of 1.16. The company has a quick ratio of 1.76, a current ratio of 4.06 and a debt-to-equity ratio of 0.39.

The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 17th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, August 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.35%. Reliance Steel & Aluminum’s dividend payout ratio is currently 36.76%.

In other news, Director David H. Hannah sold 25,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total value of $2,251,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.24% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vident Investment Advisory LLC raised its stake in shares of Reliance Steel & Aluminum by 1.5% in the second quarter. Vident Investment Advisory LLC now owns 38,552 shares of the industrial products company’s stock valued at $3,375,000 after acquiring an additional 576 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Reliance Steel & Aluminum by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 22,630 shares of the industrial products company’s stock valued at $1,940,000 after acquiring an additional 580 shares in the last quarter. Boston Private Wealth LLC raised its stake in shares of Reliance Steel & Aluminum by 7.4% in the first quarter. Boston Private Wealth LLC now owns 8,513 shares of the industrial products company’s stock valued at $730,000 after acquiring an additional 583 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of Reliance Steel & Aluminum by 3.8% in the second quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock valued at $1,418,000 after acquiring an additional 600 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in shares of Reliance Steel & Aluminum by 1.8% in the first quarter. Mason Street Advisors LLC now owns 36,580 shares of the industrial products company’s stock valued at $3,136,000 after acquiring an additional 657 shares in the last quarter. Institutional investors and hedge funds own 81.00% of the company’s stock.

About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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

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