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10 Steel Stocks With Upside

8. Reliance Steel & Aluminum (RS), a metals service center company, provides metals processing services and distributes a line of more than 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products sold to more than 125,000 customers across a range of industries. The company operates across 38 states through a network of more than 200 locations.

For full-year 2010, net income stood at $194.4 million, or $2.61 per share, up 31% from $148.2 million, or $2.01 per share. Sales for the period rose 19% to $6.31 billion with 3.73 million tons of metal sold at an average $1,683 per ton.

Going forward, the company estimates 2011 first quarter earnings per share to come in the range of 90 cents and $1. Additionally, the company raised its regular quarterly cash dividend by 20% to 12 cents per share from 10 cents earlier. First quarter 2011 cash dividend is payable today.

Of the 9 analysts covering the stock, 89% recommend a buy. Analysts polled by Bloomberg forecast a 12-month price target of $66.3, about 18% higher than the stock's current price.

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