We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Reliance Steel (RS) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Reliance Steel (RS - Free Report) closed at $263.48, marking a +1.27% move from the previous day. This move lagged the S&P 500's daily gain of 1.62%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 12.91%.
Prior to today's trading, shares of the metals service-center company had gained 10.62% over the past month. This has outpaced the Industrial Products sector's loss of 0.8% and the S&P 500's loss of 4.54% in that time.
Wall Street will be looking for positivity from Reliance Steel as it approaches its next earnings report date. The company is expected to report EPS of $5.65, down 32.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.88 billion, down 13.6% from the year-ago period.
RS's full-year Zacks Consensus Estimates are calling for earnings of $20.86 per share and revenue of $14.16 billion. These results would represent year-over-year changes of -30.54% and -16.85%, respectively.
Investors should also note any recent changes to analyst estimates for Reliance Steel. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.24% higher. Reliance Steel is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Reliance Steel is holding a Forward P/E ratio of 12.48. Its industry sports an average Forward P/E of 12.48, so we one might conclude that Reliance Steel is trading at a no noticeable deviation comparatively.
The Metal Products - Distribution industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Reliance Steel (RS) Gains But Lags Market: What You Should Know
In the latest trading session, Reliance Steel (RS - Free Report) closed at $263.48, marking a +1.27% move from the previous day. This move lagged the S&P 500's daily gain of 1.62%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 12.91%.
Prior to today's trading, shares of the metals service-center company had gained 10.62% over the past month. This has outpaced the Industrial Products sector's loss of 0.8% and the S&P 500's loss of 4.54% in that time.
Wall Street will be looking for positivity from Reliance Steel as it approaches its next earnings report date. The company is expected to report EPS of $5.65, down 32.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.88 billion, down 13.6% from the year-ago period.
RS's full-year Zacks Consensus Estimates are calling for earnings of $20.86 per share and revenue of $14.16 billion. These results would represent year-over-year changes of -30.54% and -16.85%, respectively.
Investors should also note any recent changes to analyst estimates for Reliance Steel. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.24% higher. Reliance Steel is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Reliance Steel is holding a Forward P/E ratio of 12.48. Its industry sports an average Forward P/E of 12.48, so we one might conclude that Reliance Steel is trading at a no noticeable deviation comparatively.
The Metal Products - Distribution industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.