Reliance, Inc. Forecasted to Earn Q4 2024 Earnings of $3.66 Per Share (NYSE:RS)

Reliance, Inc. (NYSE:RS) – Zacks Research lowered their Q4 2024 earnings estimates for Reliance in a research note issued on Thursday, August 8th. Zacks Research analyst M. Agrawal now anticipates that the industrial products company will post earnings per share of $3.66 for the quarter, down from their prior forecast of $3.94. The consensus estimate for Reliance’s current full-year earnings is $17.59 per share. Zacks Research also issued estimates for Reliance’s Q1 2025 earnings at $3.27 EPS, Q2 2025 earnings at $4.37 EPS, Q3 2025 earnings at $4.67 EPS, Q4 2025 earnings at $4.03 EPS, Q1 2026 earnings at $5.11 EPS, Q2 2026 earnings at $4.47 EPS and FY2026 earnings at $18.07 EPS.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08). Reliance had a return on equity of 14.73% and a net margin of 7.99%. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the firm posted $6.49 EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis.

Several other research firms have also commented on RS. StockNews.com lowered shares of Reliance from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Bank of America lowered their price target on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. KeyCorp reduced their target price on Reliance from $341.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 3rd. BMO Capital Markets dropped their price target on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, Wolfe Research downgraded Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price objective on the stock. in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Reliance presently has an average rating of “Hold” and an average target price of $329.40.

Reliance Stock Up 1.3 %

RS opened at $282.53 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 5.02. The company has a market cap of $15.54 billion, a price-to-earnings ratio of 13.20 and a beta of 0.86. Reliance has a one year low of $237.14 and a one year high of $342.20. The business’s fifty day moving average is $288.99 and its two-hundred day moving average is $303.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Reliance during the first quarter valued at approximately $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Reliance during the 1st quarter valued at $30,000. Innealta Capital LLC purchased a new stake in Reliance during the 2nd quarter worth $28,000. Rise Advisors LLC acquired a new stake in Reliance in the 1st quarter valued at $49,000. Finally, Partnership Wealth Management LLC purchased a new position in Reliance in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Buying and Selling

In related news, COO Stephen Paul Koch sold 20,421 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $295.38, for a total value of $6,031,954.98. Following the sale, the chief operating officer now directly owns 7,552 shares of the company’s stock, valued at $2,230,709.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $1.10 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.40 annualized dividend and a yield of 1.56%. Reliance’s payout ratio is currently 20.55%.

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.