Reliance Steel & Aluminum (NYSE:RS) Announces Earnings Results, Beats Expectations By $0.71 EPS

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Reliance Steel & Aluminum (NYSE:RS) announced its earnings results on Thursday. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.71, RTT News reports. Reliance Steel & Aluminum had a return on equity of 13.98% and a net margin of 6.39%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm earned $1.08 EPS. Reliance Steel & Aluminum’s revenue for the quarter was down 13.0% compared to the same quarter last year. Reliance Steel & Aluminum updated its Q1 2020
Pre-Market guidance to 2.00-2.10 EPS and its Q1 guidance to $2.00-2.10 EPS.

NYSE:RS opened at $110.95 on Friday. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28. Reliance Steel & Aluminum has a twelve month low of $82.62 and a twelve month high of $122.17. The stock’s 50 day moving average price is $117.38 and its two-hundred day moving average price is $110.40. The company has a quick ratio of 1.90, a current ratio of 4.46 and a debt-to-equity ratio of 0.32.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.625 per share. This is a positive change from Reliance Steel & Aluminum’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $2.50 annualized dividend and a dividend yield of 2.25%. Reliance Steel & Aluminum’s payout ratio is 21.28%.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 5,320 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $116.36, for a total transaction of $619,035.20. Following the transaction, the senior vice president now owns 11,320 shares of the company’s stock, valued at approximately $1,317,195.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Donald Hoffman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $120.22, for a total value of $360,660.00. Insiders have sold a total of 22,160 shares of company stock worth $2,589,192 in the last ninety days. Insiders own 3.43% of the company’s stock.

A number of equities research analysts recently issued reports on the company. ValuEngine lowered Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Cowen lowered Reliance Steel & Aluminum from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $123.00 to $122.00 in a research report on Tuesday, January 21st. They noted that the move was a valuation call. KeyCorp dropped their target price on Reliance Steel & Aluminum from $125.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday. BNP Paribas assumed coverage on Reliance Steel & Aluminum in a research report on Thursday, November 14th. They issued a “hold” rating and a $117.00 target price on the stock. Finally, Exane BNP Paribas assumed coverage on Reliance Steel & Aluminum in a research report on Thursday, November 14th. They issued a “neutral” rating and a $117.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $111.00.

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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Earnings History for Reliance Steel & Aluminum (NYSE:RS)

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