Reliance (NYSE:RS – Get Free Report) issued its earnings results on Thursday. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02), Briefing.com reports. Reliance had a net margin of 7.99% and a return on equity of 14.73%. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the company earned $5.00 EPS. Reliance’s quarterly revenue 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 Stock Down 3.5 %
Shares of RS opened at $283.54 on Friday. The stock has a 50 day moving average price of $283.64 and a 200 day moving average price of $291.18. Reliance has a one year low of $237.14 and a one year 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 market capitalization of $15.60 billion, a price-to-earnings ratio of 14.47 and a beta of 0.85.
Reliance Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $4.40 annualized dividend and a dividend yield of 1.55%. Reliance’s dividend payout ratio (DPR) is presently 22.46%.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on RS
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.
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