Reliance (RS) Projected to Post Quarterly Earnings on Wednesday

Reliance (NYSE:RS) is anticipated to announce its earnings results after the market closes on Wednesday, April 23rd. Analysts expect the company to announce earnings of $3.61 per share and revenue of $3.44 billion for the quarter. Reliance has set its Q1 2025 guidance at 3.300-3.500 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Reliance (NYSE:RS) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52). The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.04 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. On average, analysts expect Reliance to post $17 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Reliance Price Performance

Reliance stock opened at $276.85 on Wednesday. The company’s 50 day simple moving average is $285.52 and its 200-day simple moving average is $289.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. Reliance has a 1 year low of $250.07 and a 1 year high of $326.87. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 17.93 and a beta of 0.83.

Reliance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Reliance’s previous quarterly dividend of $1.10. Reliance’s dividend payout ratio is currently 31.09%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RS shares. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. KeyCorp raised their target price on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Reliance presently has a consensus rating of “Hold” and an average price target of $319.00.

Insider Activity at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the completion of the sale, the chief executive officer now directly owns 90,230 shares of the company’s stock, valued at $27,115,919.60. The trade was a 25.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.69% 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.