Russel Metals (TSE:RUS) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Russel Metals Inc. (TSE:RUS) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$39.68 and traded as high as C$42.83. Russel Metals shares last traded at C$42.59, with a volume of 130,469 shares.

Wall Street Analysts Forecast Growth

RUS has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded shares of Russel Metals from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$45.00 to C$51.00 in a report on Tuesday, November 26th. Raymond James upped their target price on Russel Metals from C$50.00 to C$56.00 in a report on Wednesday, November 13th. TD Securities lifted their price target on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus increased their price objective on shares of Russel Metals from C$54.50 to C$57.00 in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.50.

Russel Metals Trading Up 0.1 %

The firm has a market cap of C$2.50 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The business has a 50 day moving average of C$42.54 and a 200 day moving average of C$39.68. The company has a quick ratio of 1.44, a current ratio of 3.85 and a debt-to-equity ratio of 16.88.

Russel Metals (TSE:RUS) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.61 by C($0.02). The firm had revenue of C$1.09 billion for the quarter, compared to analyst estimates of C$1.06 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

Russel Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.68 annualized dividend and a yield of 3.94%. Russel Metals’s payout ratio is currently 48.98%.

About Russel Metals

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.