Reliance (NYSE:RS – Get Free Report) posted its quarterly earnings results on Thursday. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02), Briefing.com reports. The firm had revenue of $3.42 billion during 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%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.00 earnings per share. Reliance updated its Q4 2024 guidance to 2.650-2.850 EPS and its Q4 guidance to $2.65 to $2.85 EPS.
Reliance Stock Performance
NYSE RS opened at $283.54 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.02 and a quick ratio of 2.43. Reliance has a 1-year low of $237.14 and a 1-year high of $342.20. The business has a 50 day simple moving average of $283.64 and a two-hundred day simple moving average of $290.87. The stock has a market capitalization of $15.60 billion, a PE ratio of 14.47 and a beta of 0.85.
Reliance Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, November 22nd. Reliance’s payout ratio is presently 22.46%.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on Reliance
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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