Reliance (NYSE:RS) Releases Earnings Results, Misses Estimates By $0.52 EPS

Reliance (NYSE:RS) announced its quarterly earnings data on Wednesday. The industrial products company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52), Zacks reports. Reliance had a net margin of 6.33% and a return on equity of 11.71%. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.04 billion. Reliance updated its Q1 2025 guidance to 3.300-3.500 EPS.

Reliance Trading Down 0.7 %

NYSE RS traded down $2.00 during mid-day trading on Friday, reaching $300.67. 112,953 shares of the stock were exchanged, compared to its average volume of 416,482. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The stock has a market cap of $16.27 billion, a P/E ratio of 19.46 and a beta of 0.91. The stock has a 50 day simple moving average of $281.75 and a 200-day simple moving average of $289.17. Reliance has a one year low of $256.98 and a one year high of $342.20.

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, March 7th. This is an increase from Reliance’s previous quarterly dividend of $1.10. Reliance’s dividend payout ratio (DPR) is currently 28.50%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BMO Capital Markets reduced their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group initiated coverage on shares of Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target on the stock. Finally, KeyCorp dropped their price objective on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $328.17.

Insiders Place Their Bets

In other news, CEO Karla R. Lewis sold 3,892 shares of Reliance stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the transaction, the chief executive officer now directly owns 85,117 shares in the company, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.