Reliance (RS) to Release Earnings on Thursday

Reliance (NYSE:RS) will post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Reliance to post earnings of $5.48 per share for the quarter. Reliance has set its Q1 guidance at $5.30-5.50 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Reliance (NYSE:RS) last posted its earnings results on Thursday, February 15th. The industrial products company reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.81. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the prior year, the company posted $5.87 earnings per share. Reliance’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts expect Reliance to post $20 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Reliance Price Performance

Shares of RS opened at $319.76 on Tuesday. The firm has a 50-day simple moving average of $324.81 and a two-hundred day simple moving average of $290.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.66 and a quick ratio of 3.23. Reliance has a 1-year low of $229.12 and a 1-year high of $342.20. The stock has a market cap of $18.36 billion, a PE ratio of 14.14, a P/E/G ratio of 5.63 and a beta of 0.87.

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $1.10 per share. This is a positive change from Reliance’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, March 7th. Reliance’s dividend payout ratio (DPR) is currently 19.46%.

Insider Buying and Selling

In other news, CFO Arthur Ajemyan sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total value of $968,850.00. Following the completion of the sale, the chief financial officer now directly owns 15,577 shares of the company’s stock, valued at approximately $5,030,592.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Arthur Ajemyan sold 3,000 shares of Reliance stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $322.95, for a total value of $968,850.00. Following the transaction, the chief financial officer now directly owns 15,577 shares of the company’s stock, valued at approximately $5,030,592.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the sale, the chief executive officer now owns 84,534 shares of the company’s stock, valued at approximately $26,963,809.98. The disclosure for this sale can be found here. Insiders have sold 85,996 shares of company stock worth $27,603,878 in the last ninety days. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RS. Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $280.00 to $380.00 in a report on Thursday, April 11th. BMO Capital Markets upped their price objective on Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, KeyCorp lifted their target price on Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $365.67.

Reliance Company Profile

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.