Reliance (NYSE:RS – Get Free Report) issued its earnings results on Thursday. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.02), Briefing.com reports. Reliance had a return on equity of 14.73% and a net margin of 7.99%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the firm earned $5.00 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Reliance updated its Q4 2024 guidance to 2.650-2.850 EPS and its Q4 guidance to $2.65 to $2.85 EPS.
Reliance Trading Down 3.5 %
NYSE RS opened at $283.54 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.02 and a quick ratio of 2.43. The stock has a market capitalization of $15.60 billion, a P/E ratio of 14.47 and a beta of 0.85. The firm’s 50-day moving average is $283.64 and its two-hundred day moving average is $291.18. Reliance has a 12 month low of $237.14 and a 12 month high of $342.20.
Reliance Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $4.40 annualized dividend and a yield of 1.55%. Reliance’s dividend payout ratio (DPR) is currently 22.46%.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on RS
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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