Reliance (RS) to Release Earnings on Wednesday

Reliance (NYSE:RS) is expected to announce its earnings results after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of $2.74 per share and revenue of $3.04 billion for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Reliance Price Performance

Shares of Reliance stock opened at $290.61 on Wednesday. The firm has a market cap of $15.73 billion, a P/E ratio of 15.96 and a beta of 0.91. The firm’s 50-day simple moving average is $283.25 and its 200-day simple moving average is $289.17. Reliance has a twelve month low of $256.98 and a twelve month high of $342.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31.

Insiders Place Their Bets

In other news, CEO Karla R. Lewis sold 3,892 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

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

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.