FY2024 EPS Estimates for Russel Metals Cut by Stifel Canada

Russel Metals Inc. (TSE:RUS) – Research analysts at Stifel Canada lowered their FY2024 EPS estimates for shares of Russel Metals in a report released on Tuesday, November 12th. Stifel Canada analyst I. Gillies now forecasts that the company will post earnings per share of $2.91 for the year, down from their previous estimate of $2.93. Stifel Canada also issued estimates for Russel Metals’ Q4 2024 earnings at $0.66 EPS and Q1 2025 earnings at $1.01 EPS.

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

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus raised their target price on Russel Metals from C$53.00 to C$54.50 in a report on Wednesday. Raymond James upped their target price on shares of Russel Metals from C$50.00 to C$56.00 in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of Russel Metals from C$43.00 to C$45.00 in a research report on Friday, November 8th. National Bankshares lowered their price objective 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 decreased their price objective on Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$49.29.

Russel Metals Stock Up 1.7 %

TSE:RUS opened at C$43.06 on Thursday. 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 has a 12-month low of C$35.20 and a 12-month high of C$47.39. The stock’s fifty day simple moving average is C$40.11 and its 200-day simple moving average is C$38.81. The firm has a market capitalization of C$2.53 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.59 and a beta of 1.52.

Russel Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.90%. The ex-dividend date 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.