Reliance Steel & Aluminum Co (NYSE:RS) Forecasted to Post FY2021 Earnings of $6.60 Per Share

Reliance Steel & Aluminum Co (NYSE:RS) – Equities research analysts at KeyCorp issued their FY2021 EPS estimates for Reliance Steel & Aluminum in a report released on Monday, March 23rd. KeyCorp analyst P. Gibbs anticipates that the industrial products company will earn $6.60 per share for the year. KeyCorp has a “Overweight” rating and a $88.00 price objective on the stock.

RS has been the subject of several other reports. Zacks Investment Research downgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “sell” rating and set a $128.00 price target for the company. in a report on Wednesday, January 15th. Cowen downgraded Reliance Steel & Aluminum from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $123.00 to $122.00 in a report on Tuesday, January 21st. They noted that the move was a valuation call. Finally, ValuEngine upgraded Reliance Steel & Aluminum from a “sell” rating to a “hold” rating in a report on Friday, March 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $107.70.

Shares of NYSE:RS opened at $91.56 on Thursday. The company has a fifty day moving average of $101.18 and a 200-day moving average of $109.86. The company has a market capitalization of $5.54 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.16 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.02 and a current ratio of 4.46. Reliance Steel & Aluminum has a 52-week low of $70.57 and a 52-week high of $122.17.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings results on Thursday, February 20th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.71. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.49 billion. Reliance Steel & Aluminum had a net margin of 6.39% and a return on equity of 13.98%. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share.

A number of institutional investors and hedge funds have recently modified their holdings of RS. Louisiana State Employees Retirement System boosted its position in shares of Reliance Steel & Aluminum by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the industrial products company’s stock worth $1,928,000 after purchasing an additional 100 shares in the last quarter. Virginia Retirement Systems ET AL boosted its position in shares of Reliance Steel & Aluminum by 0.5% during the 4th quarter. Virginia Retirement Systems ET AL now owns 18,900 shares of the industrial products company’s stock worth $2,263,000 after purchasing an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Reliance Steel & Aluminum by 1.1% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 12,360 shares of the industrial products company’s stock worth $1,480,000 after purchasing an additional 130 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Reliance Steel & Aluminum by 5.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,572 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 140 shares in the last quarter. Finally, O Shares Investment Advisers LLC boosted its position in shares of Reliance Steel & Aluminum by 1.5% during the 4th quarter. O Shares Investment Advisers LLC now owns 10,995 shares of the industrial products company’s stock worth $1,317,000 after purchasing an additional 159 shares in the last quarter. 83.76% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Karla R. Lewis sold 18,954 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $107.26, for a total value of $2,033,006.04. Following the completion of the sale, the chief financial officer now directly owns 105,430 shares in the company, valued at $11,308,421.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.43% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 2.73%. This is an increase from Reliance Steel & Aluminum’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, March 12th. Reliance Steel & Aluminum’s dividend payout ratio is presently 24.18%.

Reliance Steel & Aluminum Company Profile

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.

Further Reading: What are the benefits of momentum investing?

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.