Wall Street analysts predict that Reliance Steel & Aluminum Co (NYSE:RS) will report $2.95 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Reliance Steel & Aluminum’s earnings, with the highest sales estimate coming in at $2.98 billion and the lowest estimate coming in at $2.93 billion. Reliance Steel & Aluminum posted sales of $2.45 billion during the same quarter last year, which suggests a positive year over year growth rate of 20.4%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Reliance Steel & Aluminum will report full year sales of $11.41 billion for the current financial year, with estimates ranging from $11.29 billion to $11.53 billion. For the next year, analysts expect that the company will post sales of $11.60 billion, with estimates ranging from $11.05 billion to $12.04 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Reliance Steel & Aluminum.

Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings data on Thursday, July 26th. The industrial products company reported $3.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.35. The business 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 firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share.

A number of research firms have recently commented on RS. ValuEngine cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. JPMorgan Chase & Co. boosted their price objective on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Deutsche Bank cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and cut their price objective for the company from $100.00 to $90.00 in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Wednesday, September 5th. Finally, Citigroup initiated coverage on Reliance Steel & Aluminum in a research report on Monday, September 17th. They issued a “neutral” rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $95.22.

Shares of Reliance Steel & Aluminum stock traded up $0.33 on Friday, reaching $81.78. The company’s stock had a trading volume of 684,251 shares, compared to its average volume of 504,371. The stock has a market capitalization of $6.17 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. Reliance Steel & Aluminum has a 52-week low of $72.69 and a 52-week high of $97.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.06 and a quick ratio of 1.76.

In related news, Director David H. Hannah sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total transaction of $2,251,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.24% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Reliance Steel & Aluminum by 1.7% during the second quarter. BlackRock Inc. now owns 6,880,203 shares of the industrial products company’s stock worth $602,292,000 after buying an additional 115,704 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Reliance Steel & Aluminum by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,581,731 shares of the industrial products company’s stock worth $226,010,000 after buying an additional 18,241 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Reliance Steel & Aluminum by 13.7% during the second quarter. Acadian Asset Management LLC now owns 1,637,282 shares of the industrial products company’s stock worth $143,324,000 after buying an additional 196,890 shares during the last quarter. LSV Asset Management boosted its stake in Reliance Steel & Aluminum by 8.8% during the second quarter. LSV Asset Management now owns 963,374 shares of the industrial products company’s stock worth $84,333,000 after buying an additional 77,756 shares during the last quarter. Finally, Luminus Management LLC boosted its stake in Reliance Steel & Aluminum by 13.1% during the second quarter. Luminus Management LLC now owns 934,905 shares of the industrial products company’s stock worth $81,842,000 after buying an additional 108,400 shares during the last quarter. 80.98% of the stock is currently owned by institutional investors.

Reliance Steel & Aluminum Company Profile

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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