Reliance Steel & Aluminum Co (RS) Releases Earnings Results, Beats Expectations By $0.05 EPS

Reliance Steel & Aluminum Co (RS) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $1.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.31. The company posted revenue of $2204.00 million in the period, compared to analysts expectations of $2337.44 million. The company’s revenue was down -9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS.

Many Wall Street Analysts have commented on Reliance Steel & Aluminum Co. Company shares were Reiterated by Rosenblatt on Jul 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 76 from a previous price target of $69 .Rosenblatt Upgraded Reliance Steel & Aluminum Co on Apr 28, 2016 to ” Neutral”, Price Target of the shares are set at $69.Company shares were Reiterated by Cowen on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 78 from a previous price target of $70 .

Reliance Steel & Aluminum Co opened for trading at $81.33 and hit $82.62 on the upside on Wednesday, eventually ending the session at $82.28, with a gain of 0.34% or 0.28 points. The heightened volatility saw the trading volume jump to 15,07,715 shares. Company has a market cap of $5,951 M.

In a different news, on Jun 9, 2016, William A Ii Smith (SVP, General Counsel, Corp Sec) sold 1,183 shares at $77.92 per share price. According to the SEC, on Jun 9, 2016, Mark V Kaminski (director) sold 8,000 shares at $77.69 per share price. On Jun 9, 2016, Andrew G Iii Sharkey (director) sold 3,000 shares at $77.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Reliance Steel & Aluminum Co. is a metals service center company in North America. The Company provides a variety of processing services and delivers products to fabricators manufacturers and other end users. It has a network of more than 300 locations in 39 states in the United States and in 12 other countries including Australia Belgium Canada China France Malaysia Mexico Singapore South Korea Turkey the United Arab Emirates and the United Kingdom. It provides metals processing services and distributes a line of more than 100000 metal products including alloy aluminum brass copper carbon steel stainless steel titanium and specialty steel products. It also provides toll processing of aluminum carbon steel and stainless steel miscellaneous including brass copper and titanium and offers processing services which range from cutting leveling or sawing to complete processes such as machining or electropolishing.

Reliance Steel & Aluminum Co

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