(RS) Declares $0.45 Quarterly Dividend

Jefferies also released forecasts for Reliance Steel & Aluminum Co.’s Second Quarter 2017 earnings at $1.38 Earnings Per Share, Third Quarter 2017 earnings at $1.18 Earnings Per Share, Fourth Quarter 2017 earnings at $0.79 Earnings Per Share, Financial Year 2017 earnings at $4.86 Earnings Per Share and Financial Year 2018 earnings at $5.63 Earnings Per Share. The Company’s divisions include U.S.; Asia; Latin America; Europe, the Middle East and Africa; MetLife Holdings, and Corporate & Other.

RS has been the topic of a number of research analyst reports. The stock of Reliance Steel & Aluminum Co (NYSE:RS) earned “Buy” rating by Jefferies on Wednesday, September 16. Jefferies maintained Reliance Steel & Aluminum Co (NYSE:RS) on Thursday, July 6 with “Hold” rating. Hightower Advisors Ltd Liability Corporation has invested 0.03% in Reliance Steel & Aluminum Co (NYSE:RS). The company had revenue of $2.48 billion for the quarter. Next quarter’s EPS is estimated at $1.02 and the next full year EPS is anticipated to be $5.95. The company’s quarterly revenue was up 12.3% compared to the same quarter past year. Longbow Research started coverage on shares of Reliance Steel & Aluminum Co.in a research report on Wednesday, April 19th. They now have a United States dollars 88 price target on the stock.

Dowling & Yahnke Llc holds 4.9% of its portfolio in Reliance Steel & Aluminum Co for 550,866 shares. Barclays PLC reissued a “hold” rating and set a $59.00 target price on shares of Reliance Steel & Aluminum Co.in a research note on Monday, May 1st. They noted that the move was a valuation call. Below is a list of Reliance Steel & Aluminum Co (NYSE:RS) latest ratings and price target changes. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. They now have a United States dollars 81 price target on the stock.

COPYRIGHT VIOLATION WARNING: This news story was first published by Chaffey Breeze and is the property of of Chaffey Breeze. The original version of this piece of content can be read at https://www.thestockobserver.com/2017/08/11/2-41-billion-in-sales-expected-for-reliance-steel-aluminum-co-rs-this-quarter.html.

Reliance Steel & Aluminum Co. has a 1-year low of $65.10 and a 1-year high of $88.58. About shares traded. Deere & Company (NYSE:DE) has risen 46.99% since August 10, 2016 and is uptrending.

Company shares last traded at $70.24 a bit lower than the 50 day moving average of $73.09 and quite a bit lower than the 200 day moving average of $77.16.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 16th. The dividend payment will be $0.450 per share for the quarter or $1.80 annualized. Reliance Steel & Aluminum Co.’s yield ratio is presently 40.54%.

Several institutional investors have recently modified their holdings of the stock. Global X Management Co. Victory Capital Management Inc. raised its position in shares of Reliance Steel & Aluminum Co.by 27.8% in the second quarter. BlackRock Inc. now owns 6,681,296 shares of the industrial products company’s stock valued at $534,635,000 after buying an additional 6,626,061 shares during the last quarter.

04/22/2016 – Reliance Steel & Aluminum Co. was downgraded to “underperform” by analysts at CLSA. Van ECK Associates Corp now owns 108,190 shares of the industrial products company’s stock valued at $8,657,000 after buying an additional 2,757 shares during the period. Profit Investment Management LLC increased its stake in Reliance Steel & Aluminum Co.by 42.6% in the first quarter.

Ratings analysis reveals 67% of Reliance Steel’s analysts are positive. BB&T Securities has an ownership of 3,266 stocks of the industrial products firms shares valued at $237,000 after scooping up an extra 664 stocks in the previous period.

The share price of Reliance Steel & Aluminum Co. The institutional investor bought 47,100 shares of the industrial products company’s stock, valued at approximately $3,769,000.

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).