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

Reliance (NYSE:RS) 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 13.68% and a net margin of 7.42%. Reliance updated its Q1 2025 guidance to 3.300-3.500 EPS.

Reliance Stock Performance

Shares of RS traded down $5.61 during midday trading on Wednesday, reaching $293.77. 531,498 shares of the stock were exchanged, compared to its average volume of 411,838. Reliance has a twelve month low of $256.98 and a twelve month 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. The company has a market cap of $15.90 billion, a P/E ratio of 16.13 and a beta of 0.91. The stock’s 50 day simple moving average is $281.97 and its 200 day simple moving average is $289.04.

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 issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis 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 (DPR) is currently 24.16%.

Insider Transactions at Reliance

In related news, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 85,117 shares in the company, valued at approximately $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price for the company. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. BMO Capital Markets reduced their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, KeyCorp decreased their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.