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RS

Reliance Steel

$72.54

0.095 (0.13%)

16:08
06/19/17
06/19
16:08
06/19/17
16:08

Reliance Steel sees Q2 EPS $1.30-$1.40, consensus $1.58

Reliance currently expects earnings per diluted share to be in the range of $1.30-$1.40 for Q2, compared to the company's prior outlook of $1.50-$1.60 per diluted share. As a result of challenging market conditions, the positive momentum experienced for both demand and pricing trends in Q1 did not accelerate as originally anticipated into Q2. In addition, increased uncertainty in regard to metals pricing has placed downward pressure on the company's gross profit margin. Despite these changes in market conditions, Reliance continues to believe that it can sustain a reported LIFO gross profit margin within the range of 27%-29%.

RS Reliance Steel
$72.54

0.095 (0.13%)

03/14/17
03/14/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Buy from Neutral at Guggenheim with analyst Michael Morris upgraded saying that he still sees strong potential upside despite the stock's move off its lows as the company enters another expansion cycle for its film, consumer products and parks businesses. The analyst is more cautious on the Networks business, both for Disney and the broader industry, but thinks that is reflected already in Disney shares. Morris raised his price target on Disney shares to $128 from $118. 2. Dick's Sporting (DKS) upgraded to Outperform from Peer Perform at Wolfe Research. 3. Quest Diagnostics (DGX) upgraded to Conviction Buy from Buy at Goldman with analyst Isaac Ro saying the company should be a key beneficiary as the U.S. healthcare system shifts the cost burden to the individual and creates price transparency for the first time. 4. Olympic Steel (ZEUS) and Reliance Steel (RS) were upgraded to Outperform from Neutral at Macquarie, while Worthington (WOR) was upgraded to Neutral from Underperform. 5. Ethan Allen (ETH) upgraded to Strong Buy from Market Perform at Raymond James with analyst Budd Bugatch double upgrading the company saying sales comparisons get easier through 2017 while the retailer's remerchandising effort is behind it, thereby lowering the clearance markdowns. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/19/17
LBOW
04/19/17
INITIATION
LBOW
Neutral
Reliance Steel initiated with a Neutral at Longbow
Longbow analyst Chris Olin started coverage of Reliance Steel with a Neutral rating.
05/04/17
KEYB
05/04/17
DOWNGRADE
KEYB
Sector Weight
Olympic Steel downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Philip Gibbs downgraded Olympic Steel (ZUES) to Sector Weight citing valuation and lower than expected operating leverage. The analyst prefers to remain selective within the carbon steel space "amid a looser U.S. sheet supply-demand balance." He prefers shares of Nucor (NUE) and Reliance Steel (RS).
05/23/17
BOFA
05/23/17
UPGRADE
Target $88
BOFA
Buy
Reliance Steel upgraded to Buy from on valuation at BofA/Merrill
BofA/Merrill analyst Timna Tanners upgraded Reliance Steel to Buy from Neutral and trimmed its price target to $88 from $91. Tanners said the recent pullback in shares provides an attractive buying opportunity and offers strong cash flow, steady profile, and fairly consistent gross margins.

TODAY'S FREE FLY STORIES

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VTR

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SMTC

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IVZ

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DHXM

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PODD

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NFG

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OXY

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NBIX

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LPI

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MPWR

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TRS

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ORCL

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UNFI

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