Russel Metals FY2024 EPS Estimate Lowered by Stifel Canada

Russel Metals Inc. (TSE:RUS) – Stock analysts at Stifel Canada dropped their FY2024 earnings estimates for shares of Russel Metals in a note issued to investors on Thursday, November 7th. Stifel Canada analyst I. Gillies now anticipates that the company will post earnings of $2.93 per share for the year, down from their prior forecast of $3.05. Stifel Canada also issued estimates for Russel Metals’ Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $0.98 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.92 EPS.

A number of other research analysts also recently commented on the company. Stifel Nicolaus lowered their target price on 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. TD Securities increased their price objective on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada raised their price objective on shares of Russel Metals from C$43.00 to C$45.00 in a research report on Friday, November 8th. National Bankshares decreased their target price on shares of Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, BMO Capital Markets cut their price target on shares of Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.79.

Russel Metals Price Performance

Shares of RUS opened at C$42.84 on Monday. The business’s 50-day moving average is C$39.75 and its 200-day moving average is C$38.73. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. The company has a market capitalization of C$2.51 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.59 and a beta of 1.52. Russel Metals has a fifty-two week low of C$35.20 and a fifty-two week high of C$47.39.

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

Russel Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, November 27th. Russel Metals’s payout ratio is presently 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.