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

Reliance (NYSE:RS) issued its quarterly earnings data on Wednesday. The industrial products company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52), Zacks reports. Reliance had a net margin of 7.42% and a return on equity of 13.68%. Reliance updated its Q1 2025 guidance to 3.300-3.500 EPS.

Reliance Price Performance

Shares of NYSE RS traded down $5.61 during midday trading on Wednesday, reaching $293.77. The stock had a trading volume of 531,428 shares, compared to its average volume of 411,763. The stock has a 50-day moving average of $281.97 and a 200-day moving average of $289.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of 16.13 and a beta of 0.91. Reliance has a 12-month low of $256.98 and a 12-month high of $342.20.

Reliance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $1.20 dividend. This is a boost from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.63%. Reliance’s dividend payout ratio is 24.16%.

Insider Transactions at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the sale, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

RS has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. BMO Capital Markets reduced their target price on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. KeyCorp reduced their target price on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group started coverage on shares of Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $328.17.

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.