Reliance (NYSE:RS) Releases Quarterly 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 (EPS) for the quarter, missing the consensus estimate of $2.74 by ($0.52), Zacks reports. Reliance had a net margin of 7.42% and a return on equity of 13.68%. Reliance updated its Q1 2025 guidance to 3.300-3.500 EPS.

Reliance Stock Down 1.9 %

Shares of NYSE RS traded down $5.61 during midday trading on Wednesday, hitting $293.77. The stock had a trading volume of 531,428 shares, compared to its average volume of 411,763. The business’s 50 day moving average is $281.97 and its 200-day moving average is $289.04. The company has a market cap of $15.90 billion, a P/E 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. 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.63%. This is an increase from Reliance’s previous quarterly dividend of $1.10. Reliance’s dividend payout ratio is currently 24.16%.

Analyst Ratings Changes

Several equities analysts recently issued reports on RS shares. BMO Capital Markets reduced their price target 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. The Goldman Sachs Group initiated coverage on shares of Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective on the stock. KeyCorp dropped their price objective on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $328.17.

Insider Transactions at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the company’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. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.69% of the company’s stock.

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.