Reliance (NYSE:RS – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.600-3.800 for the period, compared to the consensus earnings per share estimate of 4.510. The company issued revenue guidance of -. Reliance also updated its Q3 guidance to $3.60-3.80 EPS.
Reliance Stock Performance
RS traded up $14.74 on Thursday, hitting $308.56. The company had a trading volume of 832,018 shares, compared to its average volume of 311,094. The company’s fifty day moving average price is $291.32 and its 200 day moving average price is $302.30. Reliance has a 1-year low of $237.14 and a 1-year high of $342.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.74 and a quick ratio of 3.21. The stock has a market cap of $17.72 billion, a price-to-earnings ratio of 14.41 and a beta of 0.86.
Reliance (NYSE:RS – Get Free Report) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.21). Reliance had a return on equity of 16.26% and a net margin of 8.67%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm posted $6.37 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities analysts predict that Reliance will post 18.63 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Read Our Latest Analysis on RS
Insider Transactions at Reliance
In other news, Director James Donald Hoffman sold 5,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $289.81, for a total transaction of $1,449,050.00. Following the transaction, the director now owns 49,042 shares of the company’s stock, valued at $14,212,862.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James Donald Hoffman sold 5,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $289.81, for a total transaction of $1,449,050.00. Following the transaction, the director now owns 49,042 shares of the company’s stock, valued at $14,212,862.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen Paul Koch sold 20,421 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $295.38, for a total value of $6,031,954.98. Following the transaction, the chief operating officer now directly owns 7,552 shares in the company, valued at approximately $2,230,709.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,421 shares of company stock worth $11,866,855. Insiders own 0.69% of the company’s stock.
Reliance Company Profile
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.
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