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

Reliance (NYSE:RS) announced its quarterly earnings results 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 return on equity of 13.68% and a net margin of 7.42%. Reliance updated its Q1 2025 guidance to 3.300-3.500 EPS.

Reliance Stock Down 1.9 %

RS stock traded down $5.61 during mid-day trading on Wednesday, reaching $293.77. The company had a trading volume of 531,498 shares, compared to its average volume of 411,838. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The stock has a 50 day simple moving average of $281.97 and a two-hundred day simple moving average of $289.04. 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 52 week low of $256.98 and a 52 week high of $342.20.

Reliance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $1.20 per share. This is a boost from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a yield of 1.63%. Reliance’s dividend payout ratio is 24.16%.

Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the transaction, the chief executive officer now directly owns 85,117 shares in the company, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

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