Russel Metals Q3 EPS Cut by National Bank Financial

Russel Metals Inc. (TSE:RUS) – Stock analysts at National Bank Financial dropped their Q3 2024 earnings per share estimates for Russel Metals in a research note issued on Monday, October 21st. National Bank Financial analyst M. Sytchev now expects that the company will post earnings of $0.67 per share for the quarter, down from their prior estimate of $0.82. National Bank Financial also issued estimates for Russel Metals’ Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.08 EPS and FY2025 earnings at $4.16 EPS.

Russel Metals (TSE:RUS) last issued its earnings results on Wednesday, July 31st. The company reported C$0.84 EPS for the quarter, beating analysts’ consensus estimates of C$0.83 by C$0.01. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%. The company had revenue of C$1.07 billion during the quarter, compared to the consensus estimate of C$1.08 billion.

Several other equities research analysts have also recently commented on RUS. National Bankshares dropped their target price on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. TD Securities upgraded shares of Russel Metals from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$44.00 to C$46.00 in a report on Monday, September 16th. Royal Bank of Canada cut their target price on shares of Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. BMO Capital Markets lowered their target price on shares of Russel Metals from C$46.00 to C$45.00 in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Russel Metals from C$55.00 to C$52.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Russel Metals has a consensus rating of “Moderate Buy” and an average price target of C$46.93.

Russel Metals Stock Performance

The company’s fifty day simple moving average is C$38.99 and its 200 day simple moving average is C$38.87. The company has a market capitalization of C$2.30 billion, a PE ratio of 11.56, a PEG ratio of 0.59 and a beta of 1.52. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85. Russel Metals has a twelve month low of C$33.38 and a twelve month high of C$47.39.

Russel Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.68 annualized dividend and a yield of ∞. Russel Metals’s dividend payout ratio (DPR) is presently 48.98%.

Russel Metals Company Profile

Russel Metals Inc operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products.