(RS) Announces Earnings Results, Beats Estimates By $0.02 EPS

Share

06/26/2017 - Reliance Steel & Aluminum Co. had its "overweight" rating reiterated by analysts at KeyBanc.

Nationwide Fund Advisors reports that it bought 13,981 shares last quarter increasing its stake in Reliance Steel & Aluminum Co. Zacks' sales averages are an average based on a survey of sell-side research firms that cover Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co. had a return on equity of 8.67% and a net margin of 3.57%. (NYSE:RS) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.40 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.38 by $0.02. The Company's USA segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in stocks of Reliance Steel & Aluminum by 15.9% in the Fiscal Q2. Next quarter's EPS is forecasted at $1.02 and the next full year EPS is anticipated to be $5.95.

RS has been the subject of several analyst reports. Jpmorgan Chase & reported 0.01% in Reliance Steel & Aluminum Co (NYSE:RS). BidaskClub lowered Reliance Steel & Aluminum Co. from a "sell" rating to a "strong sell" rating in a research report on Wednesday, June 21st. They noted that the move was a valuation call.

Dimensional Fund Advisors Lp isn't the only one who has changed their investment in RS. Poplar Forest Capital LLC downsized its stake by shedding 22,338 shares a decrease of 3.3% as of 06/30/2017. Jefferies Group LLC restated a "hold" rating and set a $77.00 price target (down from $80.00) on shares of Reliance Steel & Aluminum Co.in a research report on Friday, April 28th. On Tuesday, November 29 the stock rating was downgraded by Macquarie Research to "Neutral".

Based on the latest notes released to investors, 2 analysts have issued a rating of "buy", 3 analysts "outperform", 3 analysts "hold", 0 analysts "underperform" and 0 analysts "sell". The stock has an average rating of "Buy" and an average target price of $82.86. BlackRock Inc. raised its stake in Reliance Steel & Aluminum Co.by 11,996.1% in the first quarter.

WARNING: This piece was posted by Transcript Daily and is the property of of Transcript Daily. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & global copyright and trademark laws. The correct version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/11/fmr-llc-purchases-new-position-in-reliance-steel-aluminum-co-nysers-updated.html. Global X Management Co. Meeder Asset Mgmt Incorporated has invested 0.21% of its portfolio in Reliance Steel & Aluminum Co (NYSE:RS). Zurcher Kantonalbank Zurich Cantonalbank has an ownership of 2,788 stocks of the industrial products firms shares valued at $203,000 after scooping up an extra 382 stocks in the previous period.

Shares of Reliance Steel & Aluminum Co. Renaissance Technologies LLC controls 372,112 shares with a value of $27,093,000.

As of the end of the quarter Lodge Hill Capital, LLC had sold 242,567 shares trimming its position 47.8%. Vanguard Group Inc. now owns 5,934,721 shares of the industrial products company's stock valued at $474,896,000 after buying an additional 239,449 shares during the last quarter. Comerica Bank raised its stake in Reliance Steel & Aluminum Co.by 4.3% in the first quarter. The institutional investor owned 190,654 shares of the industrial products company's stock after selling 101 shares during the period.

Reliance Steel & Aluminum Co (NYSE:RS) institutional sentiment decreased to 0.91 in 2016 Q4. (RS) opened at 71.40 on Friday. The stock declined 1.58% or $1.13 reaching $70.27 per share. Company's 50 Day SMA is $72.96 and its 200 SMA is $77.39. The stock's market capitalization is 5.21B.

The company is down since yesterday's close of $72.34. The company announced a dividend payable on Friday September 8th, 2017. The dividend payment will be $0.450 per share for the quarter or $1.80 annualized. The ex-dividend date is set for Wednesday the 24th of May 2017. Reliance Steel & Aluminum Co.'s dividend payout ratio is presently 40.54%. Barclays PLC restated a "hold" rating and set a $59.00 price target on shares of Reliance Steel & Aluminum Co.in a research report on Monday, May 1st. As of December 31, 2016, the Company's network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

Share

Advertisement

Related Posts

Steelers beat Giants in preseason opener
Watt almost had a third sack later in the half, chasing down quarterback Josh Johnson before he got rid of the ball. Smith's final stats were modest, as he completed 10 of 16 passes for 114 yards, no touchdown and one interception.

Crespo tips Man United to win Premier League
I don't think I am in a position of moaning, crying, contesting or to say I am not happy with it. If the remaining 25 per cent doesn't arrive, I will not moan.

(CVS) Shares now down at $79.02 Faruqi & Faruqi, LLP is Investigating…
It is positive, as 38 investors sold BLK shares while 294 reduced holdings. 8 funds opened positions while 14 raised stakes. Finally, Bank of Montreal Can increased its position in shares of CVS Health Corporation by 10.7% in the first quarter.

Bombastic Trump aide says Tillerson commenting on North Korea is 'simply nonsensical'
Lindsey Graham of SC said during a swing through the Upstate on Wednesday, Aug. 9 that he wasn't bothered by President Donald J. Trump's warning that North Korea would suffer " fire and fury " if it didn't stop threatening the United States.

The Critical Comparison: NanoString Technologies (NSTG) & Biocept (BIOC)
In the investing realm, using the moving average for technical equity analysis is still very popular among traders and investors. The biotechnology company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.17.

Charles Oakley Will Be Suiting Up For The BIG3 Regular-Season Finale
Don't expect much out of Oakley - as we learned with Allen Iverson . Now at 53 years old, Oakley has stepped into a coaches role. Charles Oakley was the toughest of tough guys.

PC/PS4/Xbox One's Super Mega Baseball 2 Delayed Until Next MLB Season
We know that this is disappointing news for some, and were sorry to have gotten your hopes up for September. And where were sitting now, to release it by September would mean having to cut a lot of corners.

Zerstückelte Leiche in Hamburger Kanal: Weitere Teile gefunden
Die Polizei geht davon aus, dass es sich um ein weiteres Körperteil einer 48-jährigen Afrikanerin handelt, die im Stadtteil St. Begonnen hatte die Fundserie am Donnerstag vergangener Woche, als am Elbstrand in Hamburg-Rissen erste Teile gefunden wurden.

Which Browns QB should start against the Giants?
"He'll be the first to tell you that there were some things that were not DeShone Kizer-like from practice", Jackson said. On the positive side, he said Kizer threw the ball downfield, made plays with his arms and legs, and showed poise.

AGCO Corporation (NYSE:AGCO) Stock Rating Lowered by BidaskClub
It has underperformed by 28.95% the S&P500.The move comes after 8 months negative chart setup for the $20.13 billion company. The Networks segment consists of two business units: Network Products and Network Services. (NYSE:SE) for 51,561 shares.

© 2015 ExpressNewsline. All Rights reserved.