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RS

Reliance Steel

$76.72

-3.66 (-4.55%)

06:52
10/25/18
10/25
06:52
10/25/18
06:52

Reliance Steel reports Q3 adjusted EPS $2.42, consensus $2.69

Reports Q3 revenue $2.97B, consensus $2.97B.

  • 25

    Oct

RS Reliance Steel
$76.72

-3.66 (-4.55%)

10/22/18
10/22/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. eBay (EBAY) downgraded to Neutral from Buy at Monness Crespi and BofA/Merrill. 2. Bristol-Myers (BMY) downgraded to Neutral from Buy at Citi. 3. Manpower (MAN) downgraded to Neutral from Overweight at JPMorgan with analyst Andrew Steinerman saying he "misjudged the magnitude" of the European softness for the company as its Q4 financial guidance suggests a down 2% year-over-year same day basis revenue decline. 4. Reliance Steel (RS) downgraded to Neutral from Buy at Longbow with analyst Chris Olin citing near-term risks from unfavorable nonferrous demand/price momentum following a collection of relatively weak data points from the firm's carbon and stainless steel surveys. 5. Wingstop (WING) downgraded to Neutral from Outperform at Wedbush with analyst Nick Setyan saying he continues to believe drivers of same-store sales growth, unit growth, and margin upside relative to current consensus 2018 and 2019 estimates exist. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/22/18
10/22/18
DOWNGRADE

Neutral
Reliance Steel downgraded to Neutral at Longbow
As previously reported, Longbow downgraded Reliance Steel to Neutral from Buy. Analyst Chris Olin lowered estimates to reflect near-term risks from unfavorable nonferrous demand/price momentum following a collection of relatively weak data points from the firm's carbon and stainless steel surveys. Reduced visibility into top-line growth and margin potential have led to Olin lowered estimates in-line with consensus saying he would wait for market stabilization.
10/22/18
LBOW
10/22/18
DOWNGRADE
LBOW
Neutral
Reliance Steel downgraded to Neutral from Buy at Longbow
10/02/18
10/02/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. GE UPGRADED AT RBC, WOLFE: RBC Capital analyst Deane Dray upgraded General Electric (GE) to Outperform from Sector Perform and raised his price target for the shares to $15 from $13. The analyst believes a floor has been put in the shares following news of Larry Culp being named Chairman and CEO. Additionally, GE was upgraded to Outperform from Peer Perform at Wolfe Research. DEUTSCHE SEES HEIGHTENED RISKS TO FACEBOOK ESTIMATES: After attending the first day of AdWeek, Deutsche Bank analyst Lloyd Walmsley sees heightened risk to the Q3, Q4 and 2019 consensus estimates for Facebook (FB). The analyst said he's starting to hear more cautious feedback and that Facebook seems on the defensive, particularly following last week's data breach disclosure. Walmsley, however, continues to view Facebook as attractively valued and kept a Buy rating on the shares with a $205 price target. JPMORGAN ADDS WEIGHT WATCHERS TO FOCUS LIST: JPMorgan analyst Christina Brathwaite added Weight Watchers (WTW) to her firm's America's Analyst Focus while keeping an Overweight rating on the shares with a $120 price target. The stock's 30% pullback from its peak on June 20 presents a "compelling entry point for investors who missed the stock's appreciation the first time around," Brathwaite said. Despite the post-earnings selloff, the analyst believes the Q2 print was actually indicative that Weight Watchers' growth story remains on track. Further, she believes the changes announced last week, including its new rewards program, as well as the company's Invite a Friend program, will help drive member recruitment and retention going forward. AMBEV DOUBLE DOWNGRADED BY UBS: UBS analyst Alan Alanis double downgraded Ambev (ABEV) to Sell from Buy and lowered his price target for the shares to R$17 from R$23. AmBev trades at a 25% higher valuation than parent company AB InBev (BUD), which is unwarranted, Alanis believes. He believes Ambev shares at current levels are more than pricing in the company's favorable outlook. Further, he expects consensus estimates to come down due to a tougher competitive environment, a "tepid" Brazilian economic recovery and currency headwinds. DEUTSCHE DOWNGRADES METAL STOCKS: Deutsche Bank analyst Jeremy Kliewer downgraded Century Aluminum to Hold from Buy and lowered his price target for the shares to $15 from $20, stating that Century's margins could remain pressured for longer due to alumina supply disruptions. Meanwhile, Deutsche's Chris Terry downgraded Reliance Steel (RS) to Hold from Buy and lowered his price target for the shares to $90 from $100, and downgraded U.S. Steel (X) to Hold from Buy and lowered his price target for the shares to $35 from $47. The analyst said his view on the steel sector is "moderating post peak pricing." Most positive data points and catalysts have now largely played out, Terry believes.

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EV

Eaton Vance

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DE

Deere

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PRU

Prudential

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PRGO

Perrigo

$49.65

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SLGG

Super League Gaming

$7.43

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HON

Honeywell

$169.95

-0.8 (-0.47%)

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NDRA

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IVAC

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S

Sprint

$6.18

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Sprint

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PANW

Palo Alto Networks

$225.78

0.39 (0.17%)

, ZS

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OKTA

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TMUS

T-Mobile

$75.39

0.01 (0.01%)

, S

Sprint

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HUM

Humana

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SBGSY

Schneider Electric

$0.00

(0.00%)

, FTV

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SBGSY

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FTV

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HON

Honeywell

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MMM

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SI

Symbol now SIEGY

$0.00

(0.00%)

JCI

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SWK

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IR

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ROK

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EFX

Equifax

$121.08

-0.415 (-0.34%)

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