Reliance, Inc. (NYSE:RS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Reliance, Inc. (NYSE:RS) have received a consensus rating of “Hold” from the five analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $329.40.

RS has been the subject of several research analyst reports. KeyCorp dropped their price objective on Reliance from $341.00 to $325.00 and set an “overweight” rating for the company in a report on Wednesday, July 3rd. Bank of America lowered their target price on Reliance from $340.00 to $335.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, Wolfe Research cut Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price for the company. in a research note on Friday, July 26th.

Reliance Trading Up 1.4 %

NYSE RS opened at $277.95 on Friday. Reliance has a fifty-two week low of $237.14 and a fifty-two week high of $342.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 5.02. The stock has a 50 day simple moving average of $287.13 and a two-hundred day simple moving average of $299.49. The stock has a market cap of $15.29 billion, a P/E ratio of 12.98 and a beta of 0.85.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.08). Reliance had a return on equity of 14.73% and a net margin of 7.99%. The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the business posted $6.49 EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts forecast that Reliance will post 17.21 earnings per share for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, August 16th. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in shares of Reliance in the first quarter worth $25,000. Contravisory Investment Management Inc. purchased a new position in shares of Reliance in the first quarter worth $30,000. Innealta Capital LLC purchased a new position in shares of Reliance in the second quarter worth $28,000. Rise Advisors LLC purchased a new position in shares of Reliance in the first quarter worth $49,000. Finally, Headlands Technologies LLC purchased a new position in shares of Reliance in the first quarter worth $86,000. Institutional investors own 79.26% of the company’s stock.

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.