FY2024 EPS Estimates for Russel Metals Decreased by Analyst

Russel Metals Inc. (TSE:RUS) – Research analysts at Stifel Canada dropped their FY2024 earnings estimates for Russel Metals in a report issued on Wednesday, October 16th. Stifel Canada analyst I. Gillies now expects that the company will post earnings per share of $3.05 for the year, down from their prior forecast of $3.23.

A number of other equities research analysts have also recently weighed in on RUS. Stifel Nicolaus dropped their price target on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating for the company 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 target for the stock from C$44.00 to C$46.00 in a research report on Monday, September 16th. National Bankshares decreased their price objective on shares of 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. BMO Capital Markets dropped 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, Royal Bank of Canada lowered their price target on shares of Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$46.93.

Russel Metals Price Performance

TSE:RUS opened at C$40.81 on Friday. The company has a quick ratio of 1.44, a current ratio of 3.85 and a debt-to-equity ratio of 16.88. The firm has a market cap of C$2.39 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. Russel Metals has a 12 month low of C$33.38 and a 12 month high of C$47.39. The company’s 50-day moving average price is C$38.90 and its two-hundred day moving average price is C$39.02.

Russel Metals (TSE:RUS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.84 earnings per share (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 analysts’ expectations of C$1.08 billion.

Russel Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors 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 4.12%. Russel Metals’s dividend 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.