Reliance Inc (NYSE:RS) shares, rose in value on Friday, May 30, with the stock price up by 0.30% to the previous day’s close as strong demand from buyers drove the stock to $292.82.
Actively observing the price movement in the last trading, the stock closed the session at $291.94. The PE ratio was 21.00 over 12-month period. Referring to stock’s 52-week performance, its high was $326.87, and the low was $250.07. On the whole, RS has fluctuated by 1.59% over the past month.
With the market capitalization of Reliance Inc currently standing at about $15.40 billion, investors are eagerly awaiting this quarter’s results, scheduled for in June. The company’s Forward Dividend Ratio is 4.60, with its dividend yield at 1.57%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 14.07B, with a low estimate of 3.57B and a high estimate of 3.89B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 3.66B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RS’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 6.40, with the price of RS currently trading nearly -1.78% and 1.55% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.31, while the 7-day volatility ratio is showing 1.99% which for the 30-day chart, stands at 1.37%. Furthermore, Reliance Inc (RS)’s beta value is 0.87, and its average true range (ATR) is 6.75.
A comparison of Reliance Inc (RS) with its peers suggests the former has fared considerably weaker in the market. RS showed an intraday change of 0.30% in last session, and over the past year, it shrunk by -3.08%%.
Data on historical trading for Reliance Inc (NYSE:RS) indicates that the trading volumes over the past 3 months, they’ve averaged 391.96K. According to company’s latest data on outstanding shares, there are 52.89 million shares outstanding.
Nearly 0.73% of Reliance Inc’s shares belong to company insiders and institutional investors own 83.27% of the company’s shares. The stock has risen by 8.75% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RS stock heading into the next quarter.
