In the latest trading session, Reliance Steel (RS) closed at $169.74, marking a -0.78% move from the previous day. This change lagged the S&P 500's 0.16% gain on the day. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 0.17%.Prior to today's trading, shares of the metals service-center company had lost 12.92% over the past month. This has lagged the Industrial Products sector's loss of 11.74% and the S&P 500's loss of 6.79% in that time.Wall Street will be looking for positivity from Reliance Steel as it approaches its next earnings report date. This is expected to be July 28, 2022. The company is expected to report EPS of $9.02, up 78.26% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.58 billion, up 34.05% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $27.90 per share and revenue of $16.43 billion, which would represent changes of +26.13% and +16.59%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for Reliance Steel. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Reliance Steel is currently a Zacks Rank #3 (Hold).Investors should also note Reliance Steel's current valuation metrics, including its Forward P/E ratio of 6.13. This represents a premium compared to its industry's average Forward P/E of 5.58.The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Reliance Steel & Aluminum Co. (RS): Free Stock Analysis Report To read this article on Zacks.com click here.