Reliance Steel & Aluminum Rating Reiterated by Zacks (RS)

Reliance Steel & Aluminum ‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Monday, Analyst Ratings Network reports. They currently have a $72.00 target price on the stock.

Shares of Reliance Steel & Aluminum traded up 0.38% during mid-day trading on Monday, hitting $68.68. Reliance Steel & Aluminum has a one year low of $44.81 and a one year high of $72.90. The stock’s 50-day moving average is currently $66.83. The company has a market cap of $5.267 billion and a P/E ratio of 14.02.

Reliance Steel & Aluminum (NYSE: RS) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by $0.07. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. Reliance Steel & Aluminum has set its Q2 guidance at $1.10-1.20 EPS. On average, analysts predict that Reliance Steel & Aluminum will post $4.90 earnings per share for the current fiscal year.

RS has been the subject of a number of other recent research reports. Analysts at Cowen Securities cut their price target on shares of Reliance Steel & Aluminum from $89.00 to $75.00 in a research note to investors on Tuesday, April 30th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Reliance Steel & Aluminum in a research note to investors on Tuesday, April 16th. They set a “buy” rating and a $79.00 price target on the stock. Finally, analysts at Wells Fargo initiated coverage on shares of Reliance Steel & Aluminum in a research note to investors on Thursday, March 21st. They set an “outperform” rating on the stock.

Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $72.38.

The company also recently announced a quarterly dividend, which is scheduled for Friday, June 21st. Stockholders of record on Friday, May 31st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, May 29th.

Reliance Steel & Aluminum Co is a metals service center company. The Company’s network of metals service centers operates more than 200 locations in 38 states, Belgium,Canada, China, Mexico, Singapore, South Korea and the United Kingdom.