S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20

FY2022 EPS Estimates for Reliance Steel & Aluminum Co. (NYSE:RS) Lifted by Analyst

Last updated on Friday, November 26, 2021 | 2021 MarketBeat

Reliance Steel & Aluminum Co. (NYSE:RS) - Stock analysts at KeyCorp upped their FY2022 earnings estimates for Reliance Steel & Aluminum in a research report issued on Monday, November 22nd. KeyCorp analyst P. Gibbs now forecasts that the industrial products company will post earnings of $14.00 per share for the year, up from their prior forecast of $13.50. KeyCorp has a "Overweight" rating and a $175.00 price target on the stock. Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings results on Wednesday, October 27th. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.95 by $0.20. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.75 billion. Reliance Steel & Aluminum had a return on equity of 20.36% and a net margin of 9.16%. The company's quarterly revenue was up 84.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 earnings per share.

Several other research analysts have also issued reports on RS. Seaport Res Ptn reiterated a "buy" rating on shares of Reliance Steel & Aluminum in a report on Monday, August 23rd. Deutsche Bank Aktiengesellschaft upgraded Reliance Steel & Aluminum to a "hold" rating and raised their target price for the company from $165.00 to $175.00 in a report on Wednesday, September 15th. They noted that the move was a valuation call. Seaport Global Securities began coverage on Reliance Steel & Aluminum in a report on Monday, August 23rd. They issued a "buy" rating and a $165.00 target price on the stock. Zacks Investment Research lowered Reliance Steel & Aluminum from a "strong-buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a report on Friday, September 24th. Finally, The Goldman Sachs Group upgraded Reliance Steel & Aluminum from a "neutral" rating to a "buy" rating and raised their target price for the company from $162.00 to $190.00 in a report on Wednesday, November 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $172.89.

Shares of NYSE:RS opened at $161.78 on Wednesday. The business's 50 day simple moving average is $151.08 and its two-hundred day simple moving average is $154.87. The firm has a market cap of $10.14 billion, a P/E ratio of 9.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.39 and a current ratio of 4.25. Reliance Steel & Aluminum has a 52-week low of $114.26 and a 52-week high of $181.21.

Several hedge funds and other institutional investors have recently made changes to their positions in RS. Ameritas Investment Company LLC purchased a new position in shares of Reliance Steel & Aluminum in the first quarter valued at $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in Reliance Steel & Aluminum by 126.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the industrial products company's stock valued at $26,000 after buying an additional 95 shares during the period. Koshinski Asset Management Inc. bought a new stake in Reliance Steel & Aluminum during the third quarter valued at $26,000. Fifth Third Bancorp boosted its stake in Reliance Steel & Aluminum by 29.4% during the third quarter. Fifth Third Bancorp now owns 321 shares of the industrial products company's stock valued at $46,000 after buying an additional 73 shares during the period. Finally, IndexIQ Advisors LLC boosted its stake in Reliance Steel & Aluminum by 62.4% during the third quarter. IndexIQ Advisors LLC now owns 328 shares of the industrial products company's stock valued at $47,000 after buying an additional 126 shares during the period. Institutional investors own 81.57% of the company's stock.

In other Reliance Steel & Aluminum news, CEO James Donald Hoffman sold 5,000 shares of the firm's stock in a transaction on Wednesday, October 6th. The stock was sold at an average price of $141.43, for a total value of $707,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William A. Smith II sold 5,598 shares of the firm's stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $164.93, for a total value of $923,278.14. The disclosure for this sale can be found here. Company insiders own 3.43% of the company's stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 3rd. Investors of record on Friday, November 19th will be issued a dividend of $0.688 per share. The ex-dividend date of this dividend is Thursday, November 18th. This represents a $2.75 dividend on an annualized basis and a yield of 1.70%. Reliance Steel & Aluminum's dividend payout ratio (DPR) is currently 15.84%.

About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co engages in the provision of metals processing services and distribution of metal products. It offers alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. The company was founded by Thomas J. Neilan on February 3, 1939 and is headquartered in Los Angeles, CA.

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

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