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Countdown to Reliance (RS) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
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In its upcoming report, Reliance (RS - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $3.68 per share, reflecting an increase of 1.1% compared to the same period last year. Revenues are forecasted to be $3.53 billion, representing a year-over-year increase of 3.2%.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Reliance metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Net Sales- Carbon Steel' will likely reach $1.88 billion. The estimate indicates a year-over-year change of +1.5%.
The collective assessment of analysts points to an estimated 'Net Sales- Alloy' of $160.67 million. The estimate points to a change of +3.1% from the year-ago quarter.
Analysts forecast 'Net Sales- Stainless Steel' to reach $507.64 million. The estimate points to a change of -1.2% from the year-ago quarter.
The consensus estimate for 'Net Sales- Aluminium' stands at $617.92 million. The estimate points to a change of +7.2% from the year-ago quarter.
Based on the collective assessment of analysts, 'Average selling price per ton sold' should arrive at $2267.59 . Compared to the current estimate, the company reported $2246.00 in the same quarter of the previous year.
Analysts expect 'Shipments (Tons sold)' to come in at 1.57 million. The estimate compares to the year-ago value of 1.52 million.
The consensus among analysts is that 'Tons Sold - Aluminium' will reach 82.50 thousand. Compared to the current estimate, the company reported 80.20 thousand in the same quarter of the previous year.
Analysts' assessment points toward 'Tons Sold - Stainless steel' reaching 74.80 thousand. Compared to the present estimate, the company reported 73.20 thousand in the same quarter last year.
Analysts predict that the 'Tons Sold - Alloy' will reach 30.53 thousand. Compared to the present estimate, the company reported 30.20 thousand in the same quarter last year.
The average prediction of analysts places 'Tons Sold - Carbon steel' at 1.29 million. Compared to the present estimate, the company reported 1.25 million in the same quarter last year.
Reliance shares have witnessed a change of -5.6% in the past month, in contrast to the Zacks S&P 500 composite's +1.1% move. With a Zacks Rank #3 (Hold), RS is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Countdown to Reliance (RS) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
In its upcoming report, Reliance (RS - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $3.68 per share, reflecting an increase of 1.1% compared to the same period last year. Revenues are forecasted to be $3.53 billion, representing a year-over-year increase of 3.2%.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Reliance metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Net Sales- Carbon Steel' will likely reach $1.88 billion. The estimate indicates a year-over-year change of +1.5%.
The collective assessment of analysts points to an estimated 'Net Sales- Alloy' of $160.67 million. The estimate points to a change of +3.1% from the year-ago quarter.
Analysts forecast 'Net Sales- Stainless Steel' to reach $507.64 million. The estimate points to a change of -1.2% from the year-ago quarter.
The consensus estimate for 'Net Sales- Aluminium' stands at $617.92 million. The estimate points to a change of +7.2% from the year-ago quarter.
Based on the collective assessment of analysts, 'Average selling price per ton sold' should arrive at $2267.59 . Compared to the current estimate, the company reported $2246.00 in the same quarter of the previous year.
Analysts expect 'Shipments (Tons sold)' to come in at 1.57 million. The estimate compares to the year-ago value of 1.52 million.
The consensus among analysts is that 'Tons Sold - Aluminium' will reach 82.50 thousand. Compared to the current estimate, the company reported 80.20 thousand in the same quarter of the previous year.
Analysts' assessment points toward 'Tons Sold - Stainless steel' reaching 74.80 thousand. Compared to the present estimate, the company reported 73.20 thousand in the same quarter last year.
Analysts predict that the 'Tons Sold - Alloy' will reach 30.53 thousand. Compared to the present estimate, the company reported 30.20 thousand in the same quarter last year.
The average prediction of analysts places 'Tons Sold - Carbon steel' at 1.29 million. Compared to the present estimate, the company reported 1.25 million in the same quarter last year.
View all Key Company Metrics for Reliance here>>>Reliance shares have witnessed a change of -5.6% in the past month, in contrast to the Zacks S&P 500 composite's +1.1% move. With a Zacks Rank #3 (Hold), RS is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .