Reliance Steel & Aluminum stock is forming a base showing a 211.75 buy point with its next quarterly EPS report set for Oct. 27. The entry is based on a second-stage consolidation. The metal fabricator stock has 91 Relative Strength Rating.
Be aware that it's risky to buy any stock just before it reports. You can minimize your exposure by waiting to see how the company reports and how the market reacts. Another way to minimize the risk of a post-earnings sell-off is to use an options strategy.
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The metal fabricator company reported 81% earnings growth in the latest quarterly report, while sales growth came in at 37%.
Analysts are looking for earnings growth to be flat for the quarter, and a 29% gain for the full year.
Reliance Steel & Aluminum stock has a 98 Composite Rating and earns the No. 2 rank among its peers in the Metal-Fabricators industry group. Northwest Pipe is the top-ranked stock within the group.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
