Q4 2017 EPS Estimates for Reliance Steel & Aluminum Co. (RS) Raised by Analyst

Reliance Steel & Aluminum Co. (NYSE:RS) – KeyCorp upped their Q4 2017 earnings per share (EPS) estimates for shares of Reliance Steel & Aluminum in a report released on Thursday. KeyCorp analyst P. Gibbs now anticipates that the industrial products company will post earnings per share of $1.04 for the quarter, up from their previous forecast of $0.98. KeyCorp has a “Buy” rating and a $95.00 price objective on the stock.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. The company had revenue of $2.45 billion for the quarter. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year.

Several other equities research analysts have also weighed in on RS. Cowen restated a “buy” rating and set a $92.00 price target on shares of Reliance Steel & Aluminum in a research report on Wednesday, October 4th. Jefferies Group restated a “hold” rating and set a $72.00 price target on shares of Reliance Steel & Aluminum in a research report on Friday, October 6th. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, October 16th. ValuEngine upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Finally, Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Reliance Steel & Aluminum presently has a consensus rating of “Buy” and an average target price of $83.50.

Shares of Reliance Steel & Aluminum (NYSE:RS) opened at $90.45 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 4.06. Reliance Steel & Aluminum has a 1 year low of $68.46 and a 1 year high of $91.24. The firm has a market capitalization of $6,622.90, a P/E ratio of 17.81, a P/E/G ratio of 1.63 and a beta of 1.29.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $82.69, for a total value of $92,860.87. Following the sale, the senior vice president now directly owns 15,320 shares of the company’s stock, valued at $1,266,810.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.73% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Reliance Steel & Aluminum by 4.2% during the second quarter. BlackRock Inc. now owns 6,959,142 shares of the industrial products company’s stock valued at $506,694,000 after purchasing an additional 277,846 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Reliance Steel & Aluminum by 2.5% during the second quarter. Vanguard Group Inc. now owns 6,081,125 shares of the industrial products company’s stock valued at $442,766,000 after purchasing an additional 146,404 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Reliance Steel & Aluminum by 26.2% during the third quarter. Victory Capital Management Inc. now owns 3,430,812 shares of the industrial products company’s stock valued at $261,326,000 after purchasing an additional 711,994 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Reliance Steel & Aluminum by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,550,984 shares of the industrial products company’s stock valued at $185,743,000 after purchasing an additional 50,208 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Reliance Steel & Aluminum by 1.5% during the second quarter. Lord Abbett & CO. LLC now owns 1,832,962 shares of the industrial products company’s stock valued at $133,458,000 after purchasing an additional 26,528 shares in the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.

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Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

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