Reliance, Inc. (NYSE:RS) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Brokerages have a consensus “Hold” rating on Reliance, with five hold, two buy, and one sell recommendation; the average 12-month price target is $378.67.
• Reliance reported quarterly EPS of $6.27, beating estimates of $5.47, while revenue rose 26.5% year over year to $4.63 billion. Shares opened at $414.53, near their 52-week high.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.2% yield; institutional investors own approximately 79.26% of the stock.

Shares of Reliance, Inc. (NYSE:RS - Get Free Report) have been given an average recommendation of "Hold" by the eight brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $378.6667.

RS has been the subject of several analyst reports. Weiss Ratings raised shares of Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Bank of America cut shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective on the stock. in a research report on Thursday, April 30th. Wells Fargo & Company upped their price objective on shares of Reliance from $372.00 to $398.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. dropped their target price on shares of Reliance from $378.00 to $376.00 and set a "neutral" rating for the company in a report on Wednesday, July 15th. Finally, BMO Capital Markets raised their target price on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday.

Reliance Trading Up 2.5%

Shares of RS stock opened at $414.53 on Wednesday. The business has a 50-day moving average of $388.97 and a 200 day moving average of $349.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance has a 1-year low of $260.31 and a 1-year high of $419.83. The stock has a market capitalization of $21.16 billion, a PE ratio of 24.10, a P/E/G ratio of 1.16 and a beta of 0.97.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping analysts' consensus estimates of $5.47 by $0.80. The business had revenue of $4.63 billion for the quarter, compared to analysts' expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business's quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts anticipate that Reliance will post 19.84 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance's dividend payout ratio (DPR) is 29.07%.

Hedge Funds Weigh In On Reliance

Hedge funds have recently made changes to their positions in the business. Costello Asset Management INC bought a new position in Reliance in the first quarter worth about $30,000. Brown Brothers Harriman & Co. boosted its position in Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 50 shares in the last quarter. Greenline Wealth Management LLC bought a new stake in Reliance during the 4th quarter valued at approximately $32,000. Quarry LP purchased a new position in shares of Reliance during the 3rd quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock worth $34,000 after acquiring an additional 55 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Company Profile

Reliance Steel & Aluminum Co NYSE: RS is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.

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