Reliance (RS) Projected to Post Quarterly Earnings on Wednesday

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

Reliance Stock Up 2.3 %

Shares of NYSE:RS opened at $297.98 on Tuesday. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 16.36 and a beta of 0.91. 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 has a 12-month low of $256.98 and a 12-month high of $342.20. The business’s 50 day moving average is $282.12 and its 200 day moving average is $288.96.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price on the stock. BMO Capital Markets lowered their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. KeyCorp lowered their target price on 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 upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.