Analysts Estimate Report : What to Look Out for Reliance Steel & Aluminum (NYSE:RS)

Earnings results for Reliance Steel & Aluminum (NYSE:RS)

Reliance Steel & Aluminum Co. is expected* to report earnings on 10/22/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.53. The reported EPS for the same quarter last year was $2.39.

Reliance Steel & Aluminum last posted its earnings results on July 23rd, 2020. The industrial products company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.96. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.94 billion. Its revenue was down 30.0% compared to the same quarter last year. Reliance Steel & Aluminum has generated $10.34 earnings per share over the last year and currently has a price-to-earnings ratio of 16.0. Reliance Steel & Aluminum has confirmed that its next quarterly earnings report will be published on Thursday, October 22nd, 2020.

Analyst Opinion on Reliance Steel & Aluminum (NYSE:RS)

9 Wall Street analysts have issued ratings and price targets for Reliance Steel & Aluminum in the last 12 months. Their average twelve-month price target is $109.33, predicting that the stock has a possible downside of 2.38%. The high price target for RS is $122.00 and the low price target for RS is $88.00. There are currently 6 hold ratings and 3 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Reliance Steel & Aluminum has received a consensus rating of Hold. The company’s average rating score is 2.33, and is based on 3 buy ratings, 6 hold ratings, and no sell ratings. According to analysts’ consensus price target of $109.33, Reliance Steel & Aluminum has a forecasted downside of 2.4% from its current price of $112.00. Reliance Steel & Aluminum has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: Reliance Steel & Aluminum (NYSE:RS)

Reliance Steel & Aluminum pays a meaningful dividend of 2.23%, higher than the bottom 25% of all stocks that pay dividends. Reliance Steel & Aluminum has only been increasing its dividend for 1 years. The dividend payout ratio of Reliance Steel & Aluminum is 24.18%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Reliance Steel & Aluminum will have a dividend payout ratio of 35.21% next year. This indicates that Reliance Steel & Aluminum will be able to sustain or increase its dividend.

Insiders buying/selling: Reliance Steel & Aluminum (NYSE:RS)

In the past three months, Reliance Steel & Aluminum insiders have not sold or bought any company stock. Only 3.43% of the stock of Reliance Steel & Aluminum is held by insiders. 80.03% of the stock of Reliance Steel & Aluminum is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Reliance Steel & Aluminum (NYSE:RS

Earnings for Reliance Steel & Aluminum are expected to grow by 2.75% in the coming year, from $6.91 to $7.10 per share. The P/E ratio of Reliance Steel & Aluminum is 16.00, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.48. The P/E ratio of Reliance Steel & Aluminum is 16.00, which means that it is trading at a less expensive P/E ratio than the Industrial Products sector average P/E ratio of about 30.65. Reliance Steel & Aluminum has a PEG Ratio of 1.82. PEG Ratios above 1 indicate that a company could be overvalued. Reliance Steel & Aluminum has a P/B Ratio of 1.43. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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