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Reliance Steel (RS) Gains But Lags Market: What You Should Know
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In the latest trading session, Reliance Steel (RS - Free Report) closed at $245.96, marking a +1.63% move from the previous day. The stock lagged the S&P 500's daily gain of 1.76%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 3.03%.
Heading into today, shares of the metals service-center company had gained 3.67% over the past month, outpacing the Industrial Products sector's loss of 8.43% and the S&P 500's loss of 5.94% 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 $5.69, down 32.42% from the prior-year quarter.
RS's full-year Zacks Consensus Estimates are calling for earnings of $21.41 per share and revenue of $14.65 billion. These results would represent year-over-year changes of -28.7% and -13.93%, respectively.
Investors should also note any recent changes to analyst estimates for Reliance Steel. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 17.26% higher within the past month. Reliance Steel currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Reliance Steel's current valuation metrics, including its Forward P/E ratio of 11.31. Its industry sports an average Forward P/E of 11.31, 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 35, putting it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Reliance Steel (RS) Gains But Lags Market: What You Should Know
In the latest trading session, Reliance Steel (RS - Free Report) closed at $245.96, marking a +1.63% move from the previous day. The stock lagged the S&P 500's daily gain of 1.76%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 3.03%.
Heading into today, shares of the metals service-center company had gained 3.67% over the past month, outpacing the Industrial Products sector's loss of 8.43% and the S&P 500's loss of 5.94% 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 $5.69, down 32.42% from the prior-year quarter.
RS's full-year Zacks Consensus Estimates are calling for earnings of $21.41 per share and revenue of $14.65 billion. These results would represent year-over-year changes of -28.7% and -13.93%, respectively.
Investors should also note any recent changes to analyst estimates for Reliance Steel. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 17.26% higher within the past month. Reliance Steel currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Reliance Steel's current valuation metrics, including its Forward P/E ratio of 11.31. Its industry sports an average Forward P/E of 11.31, 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 35, putting it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.