Reliance, Inc. (NYSE:RS – Free Report) – Equities research analysts at Seaport Res Ptn lowered their FY2024 earnings per share (EPS) estimates for shares of Reliance in a research note issued to investors on Tuesday, January 21st. Seaport Res Ptn analyst M. Englert now expects that the industrial products company will earn $16.29 per share for the year, down from their previous forecast of $16.43. The consensus estimate for Reliance’s current full-year earnings is $16.38 per share. Seaport Res Ptn also issued estimates for Reliance’s Q4 2024 earnings at $2.70 EPS and FY2025 earnings at $14.62 EPS.
Several other research firms have also weighed in on RS. The Goldman Sachs Group began coverage on Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target on the stock. BMO Capital Markets decreased their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. KeyCorp decreased their price target on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $328.17.
Reliance Stock Up 0.2 %
Shares of RS opened at $287.98 on Wednesday. The stock has a market capitalization of $15.59 billion, a price-to-earnings ratio of 15.81 and a beta of 0.91. Reliance has a 1 year low of $256.98 and a 1 year high of $342.20. The business’s 50 day simple moving average is $290.69 and its 200-day simple moving average is $290.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58.
Reliance (NYSE:RS – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.02). The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the company earned $5.00 earnings per share.
Insider Buying and Selling at Reliance
In other news, Director Mark V. Kaminski sold 5,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the transaction, the chief executive officer now owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,724 shares of company stock valued at $6,856,500 in the last quarter. 0.69% of the stock is owned by insiders.
Hedge Funds Weigh In On Reliance
Institutional investors have recently made changes to their positions in the company. Trust Point Inc. grew its stake in Reliance by 3.6% in the third quarter. Trust Point Inc. now owns 972 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 34 shares during the last quarter. Fulton Bank N.A. grew its stake in Reliance by 3.1% in the third quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock valued at $454,000 after purchasing an additional 47 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Reliance by 0.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,715 shares of the industrial products company’s stock valued at $2,077,000 after purchasing an additional 49 shares during the last quarter. UMB Bank n.a. grew its stake in Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 53 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Reliance by 0.3% in the third quarter. Janney Montgomery Scott LLC now owns 19,578 shares of the industrial products company’s stock worth $5,662,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Reliance
- Want to Profit on the Downtrend? Downtrends, Explained.
- Market Momentum: 3 Stocks Poised for Significant Breakouts
- Top Biotech Stocks: Exploring Innovation Opportunities
- Kinder Morgan’s Uptrend is Only Half Over: New Highs Are Coming
- Market Cap Calculator: How to Calculate Market Cap
- Momentum Builders: 3 Stocks Positioned to Shine This Quarter
Receive News & Ratings for Reliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance and related companies with MarketBeat.com's FREE daily email newsletter.