Reliance Steel & Aluminum (RS) Stock Forecast, Price & News

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Reliance Steel & Aluminum in the last twelve months. There are currently 3 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" RS shares.
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6 analysts have issued 1 year target prices for Reliance Steel & Aluminum's stock. Their RS share price forecasts range from $265.00 to $280.00. On average, they predict the company's stock price to reach $270.00 in the next twelve months. This suggests a possible upside of 11.7% from the stock's current price.
View analysts price targets for RS or view top-rated stocks among Wall Street analysts.

Reliance Steel & Aluminum's stock was trading at $202.44 at the beginning of 2023. Since then, RS stock has increased by 19.4% and is now trading at $241.69.
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Reliance Steel & Aluminum saw a drop in short interest in April. As of April 30th, there was short interest totaling 738,600 shares, a drop of 26.9% from the April 15th total of 1,010,000 shares. Based on an average trading volume of 571,800 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.3% of the shares of the company are sold short.
View Reliance Steel & Aluminum's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
View our RS earnings forecast.

Reliance Steel & Aluminum Co. (NYSE:RS) announced its quarterly earnings results on Thursday, April, 27th. The industrial products company reported $6.37 earnings per share for the quarter, beating analysts' consensus estimates of $5.70 by $0.67. The industrial products company earned $3.97 billion during the quarter, compared to analyst estimates of $3.92 billion. Reliance Steel & Aluminum had a net margin of 10.30% and a trailing twelve-month return on equity of 24.11%. The firm's revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $8.42 EPS.

Reliance Steel & Aluminum declared a quarterly dividend on Tuesday, April 25th. Shareholders of record on Friday, May 26th will be paid a dividend of $1.00 per share on Friday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Thursday, May 25th.
Read our dividend analysis for RS.

ETFs with the largest weight of Reliance Steel & Aluminum (NYSE:RS) stock in their portfolio include SPDR S&P Metals & Mining ETF (XME), VanEck Steel ETF (SLX), Invesco S&P MidCap Momentum ETF (XMMO), First Trust Materials AlphaDEX Fund (FXZ), Direxion Daily Metal Miners Bull 2X Shares (MNM), Invesco DWA Basic Materials Momentum ETF (PYZ), First Trust Dorsey Wright Momentum & Value ETF (DVLU) and LeaderShares AlphaFactor Tactical Focused ETF (LSAT).

Reliance Steel & Aluminum (NYSE:RS) pays an annual dividend of $4.00 per share and currently has a dividend yield of 1.66%. The company has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 14.33%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, RS will have a dividend payout ratio of 23.42% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for RS.

Reliance Steel & Aluminum issued an update on its second quarter 2023 earnings guidance on Thursday, April, 27th. The company provided EPS guidance of $6.40-$6.60 for the period, compared to the consensus earnings per share estimate of $6.72. The company issued revenue guidance of -.

21 employees have rated Reliance Steel & Aluminum Chief Executive Officer David H. Hannah on Glassdoor.com. David H. Hannah has an approval rating of 86% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Reliance Steel & Aluminum investors own include CA (CA), BlackRock (BLK), Chipotle Mexican Grill (CMG), Endologix (ELGX), Athabasca Oil (ATH), Micron Technology (MU), Accenture (ACN), Boeing (BA), NIC (EGOV) and

Reliance Steel & Aluminum trades on the New York Stock Exchange (NYSE) under the ticker symbol "RS."

Reliance Steel & Aluminum's stock is owned by many different retail and institutional investors. Top institutional shareholders include BlackRock Inc. (10.98%), State Street Corp (4.36%), Dimensional Fund Advisors LP (3.64%), Envestnet Asset Management Inc. (2.44%), Price T Rowe Associates Inc. MD (2.37%) and Yacktman Asset Management LP (2.13%). Insiders that own company stock include Arthur Ajemyan, James Donald Hoffman, Jeffrey Wayne Durham, Karla R Lewis, Michael Patrick Shanley, Sean Michael Mollins, Stephen Paul Koch and William A Smith II.
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Shares of RS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of RS stock can currently be purchased for approximately $241.69.

Reliance Steel & Aluminum (NYSE:RS) has a market capitalization of $14.21 billion and generates $17.03 billion in revenue each year. The industrial products company earns $1.84 billion in net income (profit) each year or $27.91 on an earnings per share basis.

The company employs 14,500 workers across the globe.

Reliance Steel & Aluminum's mailing address is 350 South Grand Avenue Suite 5100, LOS ANGELES CA, 90071. The official website for the company is www.rsac.com. The industrial products company can be reached via phone at (480) 564-5700, via email at investor@rsac.com, or via fax at 213-687-8792.