Analysts expect Reliance Steel & Aluminum Co (NYSE:RS) to post $2.96 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Reliance Steel & Aluminum’s earnings, with estimates ranging from $2.90 billion to $3.02 billion. Reliance Steel & Aluminum reported sales of $2.99 billion in the same quarter last year, which would suggest a negative year over year growth rate of 1%. The company is scheduled to announce its next earnings report on Thursday, July 25th.

On average, analysts expect that Reliance Steel & Aluminum will report full-year sales of $11.46 billion for the current year, with estimates ranging from $11.27 billion to $11.67 billion. For the next financial year, analysts anticipate that the business will post sales of $11.62 billion, with estimates ranging from $11.43 billion to $11.77 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Reliance Steel & Aluminum.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.42. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Reliance Steel & Aluminum had a return on equity of 13.70% and a net margin of 5.58%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 EPS.

A number of analysts have recently weighed in on RS shares. Cowen reiterated an “outperform” rating and set a $95.00 price target (up from $80.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, February 26th. Citigroup set a $98.00 price target on Reliance Steel & Aluminum and gave the stock a “hold” rating in a research report on Monday. Jefferies Financial Group cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and lowered their target price for the company from $105.00 to $100.00 in a research report on Friday, April 26th. Finally, Longbow Research cut Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 target price on the stock. in a research report on Thursday, April 18th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Reliance Steel & Aluminum presently has an average rating of “Hold” and an average price target of $93.20.

Shares of Reliance Steel & Aluminum stock opened at $84.39 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.85 and a current ratio of 4.06. The company has a market cap of $6.01 billion, a PE ratio of 9.44, a P/E/G ratio of 1.07 and a beta of 1.26. Reliance Steel & Aluminum has a twelve month low of $68.62 and a twelve month high of $97.41.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.61%. The ex-dividend date is Thursday, May 23rd. Reliance Steel & Aluminum’s dividend payout ratio is currently 24.61%.

In other Reliance Steel & Aluminum news, Director Gregg J. Mollins sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $91.81, for a total transaction of $2,295,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew G. Sharkey III sold 2,000 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $89.05, for a total value of $178,100.00. Following the transaction, the director now directly owns 6,893 shares of the company’s stock, valued at $613,821.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,570 shares of company stock worth $10,619,764. 3.43% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Reliance Steel & Aluminum by 249.2% during the 1st quarter. FMR LLC now owns 227,173 shares of the industrial products company’s stock worth $20,504,000 after acquiring an additional 162,118 shares in the last quarter. V Wealth Advisors LLC bought a new stake in shares of Reliance Steel & Aluminum during the 1st quarter worth $208,000. Jane Street Group LLC bought a new stake in shares of Reliance Steel & Aluminum during the 1st quarter worth $1,159,000. HighTower Advisors LLC boosted its stake in shares of Reliance Steel & Aluminum by 11.2% during the 1st quarter. HighTower Advisors LLC now owns 55,127 shares of the industrial products company’s stock worth $4,984,000 after acquiring an additional 5,562 shares in the last quarter. Finally, Zebra Capital Management LLC boosted its stake in shares of Reliance Steel & Aluminum by 12.0% during the 1st quarter. Zebra Capital Management LLC now owns 6,324 shares of the industrial products company’s stock worth $571,000 after acquiring an additional 677 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

About Reliance Steel & Aluminum

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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