Reliance Steel & Aluminum Co. (NYSE:RS) Given Price Target Of $78.857


As per Reliance Steel & Aluminum Co. (NYSE:RS)’s news release on 2016-07-21, its shareholders will get cash dividend of $0.425 per share. The recent press release updated on the record date and payout date, which stands at 2016-08-12 and 2016-09-09, respectively.

The stock will commence trading ex-dividend from 2016-08-10, until, which the shareholders are compelled to keep the holdings so as to qualify for the dividend. Evaluating the dividend distribution mode, it was noted that last year Reliance Steel & Aluminum Co. (NYSE:RS) disbursed $0.425 in dividend compared to distribution of $0.425, a year ago.

It highlights a sharp difference in cash payouts of the two years. This shows a major deviation of 14.2857%.

Analyst Perspective

The sell-side market professionals who track the firm’s financial and technical parameters have estimated Reliance Steel & Aluminum Co. (NYSE:RS) to attain a price target of $78.857. It is an average estimate figure given by 7 analysts tracking the stock. The estimates disclosed that the stock can move up on the chart and hit a high of $86. The low price range is set at $72 for next year while the arithmetic mean is seen at 2.63.

Eyeing Earnings Reliance Steel & Aluminum Co. (NYSE:RS) is likely to post quarterly numbers around 2016-10-20 for the quarter ending 2016-09-30. The quarterly EPS projection is set at $1.3 for the period ending on 2016-09-30.

In last quarter ended 2015-12-31, Reliance Steel & Aluminum Co. (NYSE:RS) earnings came at $1.36 suggesting a deviation of $0.05. The brokerages targeted EPS of $1.31 for the quarter.

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