Reliance, Inc. (NYSE:RS – Free Report) – Stock analysts at Zacks Research decreased their FY2024 earnings estimates for Reliance in a report released on Wednesday, January 22nd. Zacks Research analyst R. Department now forecasts that the industrial products company will earn $16.38 per share for the year, down from their prior estimate of $16.43. The consensus estimate for Reliance’s current full-year earnings is $16.36 per share. Zacks Research also issued estimates for Reliance’s Q4 2024 earnings at $2.79 EPS, FY2025 earnings at $15.91 EPS, Q2 2026 earnings at $4.76 EPS and FY2026 earnings at $18.16 EPS.
Several other analysts have also recently issued reports on RS. BMO Capital Markets dropped their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group assumed coverage on shares of Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective for the company. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, KeyCorp cut their price target on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a report on Wednesday. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $328.17.
Reliance Stock Performance
NYSE:RS opened at $290.79 on Thursday. The company has a market cap of $15.74 billion, a P/E ratio of 15.97 and a beta of 0.91. Reliance has a twelve month low of $256.98 and a twelve month high of $342.20. The company’s 50-day moving average price is $290.30 and its 200-day moving average price is $290.20. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.
Reliance (NYSE:RS – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company posted $5.00 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year.
Institutional Trading of Reliance
Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in Reliance in the third quarter valued at approximately $41,000. Versant Capital Management Inc boosted its stake in Reliance by 157.8% during the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 131 shares during the period. UMB Bank n.a. grew its position in Reliance by 27.0% during the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 53 shares during the last quarter. Brooklyn Investment Group acquired a new position in Reliance in the third quarter valued at $78,000. Finally, Abound Wealth Management raised its holdings in shares of Reliance by 35,700.0% in the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock valued at $96,000 after buying an additional 357 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Reliance news, Director Mark V. Kaminski sold 5,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $298.01, for a total value of $1,490,050.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the sale, the chief executive officer now owns 85,117 shares of the company’s stock, valued at $27,569,396.30. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,724 shares of company stock worth $6,856,500 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.
About Reliance
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.
Further Reading
- Five stocks we like better than Reliance
- Consumer Staples Stocks, Explained
- Why Energy Transfer Stock Could Soar to New Highs in 2025
- Business Services Stocks Investing
- 3 Buy-and-Hold Stocks for Long-Term Growth
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Despite Short-Term Risks Freeport McMoran Worth a Look
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.