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

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

Reliance Trading Down 0.5 %

RS traded down $1.60 during midday trading on Friday, hitting $301.06. 531,353 shares of the company were exchanged, compared to its average volume of 428,969. The firm has a market capitalization of $16.29 billion, a P/E ratio of 19.50 and a beta of 0.91. Reliance has a 1-year low of $256.98 and a 1-year high of $342.20. The firm's 50 day moving average price is $281.93 and its 200-day moving average price is $289.29. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12.

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.59%. This is an increase from Reliance's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 7th. Reliance's dividend payout ratio is presently 28.50%.

Analyst Upgrades and Downgrades

RS has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price objective 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. KeyCorp lowered their price target 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. Wolfe Research raised Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group started coverage on Reliance in a report on Monday, December 2nd. They issued a "neutral" rating and a $341.00 target price for the company. 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $328.17.

Insider Activity

In other news, CEO Karla R. Lewis sold 3,892 shares of the business'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 value of $1,260,618.80. Following the transaction, the chief executive officer now owns 85,117 shares in the company, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. 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.

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.