Reliance (NYSE:RS – Get Free Report) announced its quarterly earnings results on Thursday. The industrial products company reported $3.64 earnings per share (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 company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the business earned $5.00 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. 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. Reliance has a one year low of $237.14 and a one year high of $342.20. The business has a fifty day moving average price of $283.64 and a 200-day moving average price of $290.87. The firm has a market capitalization of $15.60 billion, a price-to-earnings ratio of 14.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.02 and a quick ratio of 2.43.
Reliance Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, November 22nd. Reliance’s dividend payout ratio is presently 22.46%.
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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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