Equities Analysts Issue Forecasts for Reliance Steel & Aluminum Co’s Q4 2018 Earnings (RS)

Reliance Steel & Aluminum Co (NYSE:RS) – Jefferies Financial Group upped their Q4 2018 earnings per share (EPS) estimates for shares of Reliance Steel & Aluminum in a research report issued to clients and investors on Monday, October 15th. Jefferies Financial Group analyst S. Rosenfeld now anticipates that the industrial products company will post earnings of $2.05 per share for the quarter, up from their previous forecast of $1.50. Jefferies Financial Group currently has a “Buy” rating and a $72.00 target price on the stock.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, July 26th. The industrial products company reported $3.10 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share.

Several other research analysts have also weighed in on RS. ValuEngine lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Friday, June 29th. JPMorgan Chase & Co. lifted their target price on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Zacks Investment Research lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Monday, September 3rd. Bank of America lowered Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 target price on the stock. in a report on Friday, September 7th. Finally, KeyCorp reduced their target price on Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Monday, September 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $95.22.

RS stock opened at $83.18 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.76 and a current ratio of 4.06. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. Reliance Steel & Aluminum has a 1-year low of $72.69 and a 1-year high of $97.41.

Several institutional investors have recently modified their holdings of RS. PNC Financial Services Group Inc. lifted its holdings in shares of Reliance Steel & Aluminum by 114.6% in the first quarter. PNC Financial Services Group Inc. now owns 9,412 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 5,027 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Reliance Steel & Aluminum by 2.6% in the first quarter. Sei Investments Co. now owns 36,940 shares of the industrial products company’s stock valued at $3,168,000 after purchasing an additional 924 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Reliance Steel & Aluminum by 56.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 14,902 shares of the industrial products company’s stock valued at $1,278,000 after purchasing an additional 5,353 shares in the last quarter. Element Capital Management LLC bought a new stake in shares of Reliance Steel & Aluminum in the first quarter valued at about $452,000. Finally, LPL Financial LLC lifted its holdings in shares of Reliance Steel & Aluminum by 42.4% in the first quarter. LPL Financial LLC now owns 10,850 shares of the industrial products company’s stock valued at $925,000 after purchasing an additional 3,229 shares in the last quarter. Institutional investors own 80.98% of the company’s stock.

In other news, Director David H. Hannah sold 25,000 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. Insiders own 3.24% 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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