Reliance Steel & Aluminum - RS Stock Forecast, Price & News

8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Reliance Steel & Aluminum in the last year. There are currently 2 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" RS shares.
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8 Wall Street analysts have issued 12-month price objectives for Reliance Steel & Aluminum's stock. Their RS share price forecasts range from $226.00 to $280.00. On average, they anticipate the company's stock price to reach $261.20 in the next year. This suggests a possible upside of 1.7% 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 start of the year. Since then, RS stock has increased by 26.8% and is now trading at $256.74.
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Reliance Steel & Aluminum saw a increase in short interest during the month of March. As of March 15th, there was short interest totaling 1,010,000 shares, an increase of 28.1% from the February 28th total of 788,700 shares. Based on an average daily trading volume, of 524,100 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.7% of the shares of the company are short sold.
View Reliance Steel & Aluminum's Short Interest.

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

Reliance Steel & Aluminum will be holding an earnings conference call on Thursday, April 27th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Reliance Steel & Aluminum Co. (NYSE:RS) posted its earnings results on Thursday, February, 16th. The industrial products company reported $5.87 earnings per share for the quarter, beating analysts' consensus estimates of $4.47 by $1.40. The industrial products company had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.64 billion. Reliance Steel & Aluminum had a trailing twelve-month return on equity of 27.01% and a net margin of 10.81%. The business's revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.83 EPS.

Reliance Steel & Aluminum announced a quarterly dividend on Tuesday, February 14th. Shareholders of record on Friday, March 10th will be paid a dividend of $1.00 per share on Friday, March 24th. This represents a $4.00 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, March 9th. This is a positive change from the stock's previous quarterly dividend of $0.88.
Read our dividend analysis for RS.

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

Reliance Steel & Aluminum (NYSE:RS) pays an annual dividend of $4.00 per share and currently has a dividend yield of 1.56%. 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 13.42%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, RS will have a dividend payout ratio of 18.00% 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 updated its first quarter 2023 earnings guidance on Monday, February, 20th. The company provided earnings per share guidance of $5.40-$5.60 for the period, compared to the consensus earnings per share estimate of $4.92. 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 Honeywell International (HON).

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

Reliance Steel & Aluminum's stock is owned by a number of retail and institutional investors. Top institutional investors include Dimensional Fund Advisors LP (3.82%), Royal London Asset Management Ltd. (2.43%), Price T Rowe Associates Inc. MD (2.29%), Victory Capital Management Inc. (2.25%), Victory Capital Management Inc. (2.25%) and Yacktman Asset Management LP (2.14%). 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.
View institutional ownership trends.

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 $256.74.

Reliance Steel & Aluminum (NYSE:RS) has a market capitalization of $15.14 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 $29.81 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.