Reliance (NYSE:RS – Get Free Report) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.650-2.850 for the period, compared to the consensus estimate of 3.400. The company issued revenue guidance of -. Reliance also updated its Q4 guidance to $2.65 to $2.85 EPS.
Reliance Stock Down 3.5 %
Shares of NYSE:RS opened at $283.54 on Friday. Reliance has a 1 year low of $237.14 and a 1 year high of $342.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.02 and a quick ratio of 2.43. The business’s 50-day moving average is $283.64 and its 200-day moving average is $290.87. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 14.47 and a beta of 0.85.
Reliance (NYSE:RS – Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Reliance had a net margin of 7.99% and a return on equity of 14.73%. Reliance’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $5.00 earnings per share. Equities research analysts predict that Reliance will post 17.16 earnings per share for the current year.
Reliance Dividend Announcement
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Wolfe Research lowered shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price objective on the stock. in a report on Friday, July 26th. BMO Capital Markets dropped 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 reduced their price objective on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $326.40.
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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