Earnings from Reliance Steel & Aluminum Co. [RS] are scheduled on April 22, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.
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RS Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $3.51 per share on revenue of $2.78B. Taking a look at the future, the company is projected to report revenue of $2.86B at an earnings per share of $3.27 for the Jun 2021 quarter. The estimates represent year-over-year improvements of -6.10% in revenue and -7.70% in earnings per share for the company.
RS Stock Earnings Forecast For The Current Year
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For the full financial year, Reliance Steel & Aluminum Co. [NYSE:RS] is forecasted to generate revenue of $11.12B. The figure is about $2.31 billion above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $11.42 in 2021, which is $3.71 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 48.10% this year, -8.90% next year, and 9.96% annually over the next five years. With regard to sales, forecasts suggest an incline of 26.20% in current fiscal year and -6.10% over following year.
RS Stock Price Performance
At the close of Wednesday’s session, Reliance Steel & Aluminum Co. [NYSE:RS] finished up 1.49% at $155.12. The stock’s highest single-day price was $155.80, and its lowest was $151.35. Its price fall -0.27% in the last five days. Since the beginning of the year, Reliance Steel & Aluminum Co.’s shares are up nearly 29.54%. However, the share price is -2.45% below its one year high. The top price reached by the shares of the company was $159.02 on 04/05/21, while the 52-week low came on 01/29/21, when the shares were $114.26. In the past year, shares of the company have risen 85.79%. At 50 days, the moving average achieved is $144.70 while at 200 days, the moving average is $120.02. There were 0.39 million shares traded in the last session, up from 0.34 million in the previous session.
Reliance Steel & Aluminum Co. [NYSE:RS] Stock Valuation Metrics
With a prevailing 12-month PE ratio of 27.33, Reliance Steel & Aluminum Co. [RS] does not qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a premium to the industry average of 17.92 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 1.11 PS value ratio is reported for the last one year of reported earnings. This is above the average return 0.58 for the industry, which means RS offers an unattractive investment opportunity than its competitors do.
RS Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 155.12 level, and the violation of this level will cause a further drop to 152.38 level. At the upper end, 161.28 remains a key resistance. As the stock increases, it may find resistance at 158.54. In the 14-day chart, the Relative Strength Index standing at 57.96 suggests a technical neutral stance while the MACD standing at -0.67 indicates price will decrease in the next trading period. Stochastic %K at 47.17% suggests holding the stock while Percent R indicator at 46.88% suggests low price movement.
How much is the short interest in Reliance Steel & Aluminum Co.?
There have been a drop in short interest in the Reliance Steel & Aluminum Co. Financial stock, with short interest up by 30700.0 shares to 0.83 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 0.86 million shares. This -3.68% decrease suggests some bullish sentiment was experienced by the stock. Shorted shares accounted for just 1.53% of the overall float in the stock, while the stock’s days to cover moved to 1.89.
How do analysts view Reliance Steel & Aluminum Co.?
In regard to the share price forecast for Reliance Steel & Aluminum Co. stock, the analysts, as surveyed by FactSet, forecast the price to reach $150.00 in the next twelve months, representing almost an -3.41% growth from its recent price of $155.12. Among Reliance Steel & Aluminum Co. stock projections, $182.00 is the highest analyst target for the stock, while $135.00 is the lowest. Despite this, 7 analysts who share their consensus rating for RS in 2021 agree that the stock is a Hold.