Reliance Steel & Aluminum (NYSE:RS) released its quarterly earnings results on Thursday. The industrial products company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.63), MarketWatch Earnings reports. Reliance Steel & Aluminum had a net margin of 7.66% and a return on equity of 13.58%. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the business earned $1.22 EPS. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. Reliance Steel & Aluminum updated its Q1 2019 guidance to $2.35-2.45 EPS and its Q1 guidance to $2.35-2.45 EPS.
NYSE RS traded up $2.38 during trading on Thursday, hitting $88.89. The company’s stock had a trading volume of 23,073 shares, compared to its average volume of 339,599. The company has a quick ratio of 1.92, a current ratio of 4.40 and a debt-to-equity ratio of 0.39. The company has a market cap of $5.95 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.20 and a beta of 1.22. Reliance Steel & Aluminum has a 52 week low of $68.62 and a 52 week high of $97.41.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB grew its holdings in shares of Reliance Steel & Aluminum by 7.7% during the 4th quarter. Nordea Investment Management AB now owns 54,603 shares of the industrial products company’s stock worth $3,885,000 after purchasing an additional 3,893 shares in the last quarter. APG Asset Management N.V. boosted its stake in Reliance Steel & Aluminum by 29.7% in the 4th quarter. APG Asset Management N.V. now owns 82,500 shares of the industrial products company’s stock valued at $5,136,000 after buying an additional 18,900 shares in the last quarter. Advisory Services Network LLC boosted its stake in Reliance Steel & Aluminum by 982.9% in the 4th quarter. Advisory Services Network LLC now owns 444 shares of the industrial products company’s stock valued at $32,000 after buying an additional 403 shares in the last quarter. HRT Financial LLC acquired a new stake in Reliance Steel & Aluminum in the 4th quarter valued at $254,000. Finally, Macquarie Group Ltd. boosted its stake in Reliance Steel & Aluminum by 2.8% in the 4th quarter. Macquarie Group Ltd. now owns 115,563 shares of the industrial products company’s stock valued at $8,225,000 after buying an additional 3,199 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This story was first published by Ticker Report and is owned by of Ticker Report. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/4168964/reliance-steel-aluminum-rs-releases-earnings-results-misses-estimates-by-0-63-eps.html.
Reliance Steel & Aluminum Company Profile
Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.
See Also: Determine Your Level of Risk Tolerance
Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.