Reliance (NYSE:RS – Get Free Report) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.65 to $2.85 for the period, compared to the consensus earnings per share estimate of $3.40. Reliance also updated its Q4 2024 guidance to 2.650-2.850 EPS.
Reliance Stock Performance
Shares of NYSE:RS traded down $10.26 on Friday, hitting $283.54. The company had a trading volume of 368,712 shares, compared to its average volume of 319,721. The stock has a 50 day moving average price of $283.64 and a 200 day moving average price of $291.18. The company has a current ratio of 5.02, a quick ratio of 2.43 and a debt-to-equity ratio of 0.15. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of 14.47 and a beta of 0.85. Reliance has a 1-year low of $237.14 and a 1-year high of $342.20.
Reliance (NYSE:RS – Get Free Report) last announced its earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a return on equity of 14.73% and a net margin of 7.99%. Reliance’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $5.00 EPS. Analysts expect that Reliance will post 17.16 EPS for the current year.
Reliance Dividend Announcement
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Wolfe Research lowered shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a report on Friday, July 26th. 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 research note on Friday. Finally, KeyCorp dropped their price objective on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $326.40.
View Our Latest Stock Report on RS
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.
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