Reliance (RS) Projected to Post Earnings on Wednesday

Reliance (NYSE:RS) is anticipated to post its quarterly earnings results after the market closes on Wednesday, February 19th. Analysts expect Reliance to post earnings of $2.74 per share and revenue of $3.04 billion for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Reliance Price Performance

Shares of RS opened at $290.61 on Wednesday. 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 firm has a market cap of $15.73 billion, a PE ratio of 15.96 and a beta of 0.91. Reliance has a twelve month low of $256.98 and a twelve month high of $342.20. The firm’s 50 day moving average price is $283.25 and its 200 day moving average price is $289.17.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Karla R. Lewis sold 3,892 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction 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 represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is owned by insiders.

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.