Shares of Reliance Steel & Aluminum Co (NYSE:RS) have been given an average recommendation of “Hold” by the ten ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $100.00.
RS has been the subject of several recent research reports. Deutsche Bank set a $100.00 price objective on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Thursday, July 11th. Cowen set a $108.00 price objective on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Friday, July 26th. KeyCorp upped their price objective on Reliance Steel & Aluminum from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America reaffirmed a “neutral” rating and set a $98.00 price objective on shares of Reliance Steel & Aluminum in a research report on Friday, May 31st. Finally, Zacks Investment Research raised Reliance Steel & Aluminum from a “sell” rating to a “hold” rating and set a $108.00 price objective for the company in a research report on Monday, July 29th.
In other Reliance Steel & Aluminum news, VP Arthur Ajemyan sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $101.61, for a total value of $325,152.00. Following the sale, the vice president now owns 7,544 shares in the company, valued at $766,545.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.43% of the stock is owned by corporate insiders.
NYSE:RS traded down $2.19 on Friday, reaching $95.57. The company’s stock had a trading volume of 419,253 shares, compared to its average volume of 574,546. Reliance Steel & Aluminum has a 1-year low of $68.62 and a 1-year high of $105.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.08 and a current ratio of 4.42. The firm has a market cap of $6.52 billion, a PE ratio of 10.69, a PEG ratio of 1.17 and a beta of 1.29. The business’s 50-day moving average price is $96.35 and its two-hundred day moving average price is $90.61.
Reliance Steel & Aluminum (NYSE:RS) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.11. Reliance Steel & Aluminum had a return on equity of 12.85% and a net margin of 5.22%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm earned $3.10 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts expect that Reliance Steel & Aluminum will post 9.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.20 annualized dividend and a yield of 2.30%. Reliance Steel & Aluminum’s dividend payout ratio is 24.61%.
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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