Russel Metals (TSE:RUS) Given New C$43.00 Price Target at Royal Bank of Canada

Russel Metals (TSE:RUS) had its price target decreased by Royal Bank of Canada from C$47.00 to C$43.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research firms have also commented on RUS. Raymond James lowered their price objective on shares of Russel Metals from C$52.00 to C$48.00 and set an outperform rating for the company in a research report on Wednesday, April 17th. Stifel Nicolaus lowered their target price on shares of Russel Metals from C$55.50 to C$54.00 and set a buy rating for the company in a report on Friday, April 19th. TD Securities lowered their target price on shares of Russel Metals from C$48.00 to C$45.00 and set a hold rating for the company in a report on Thursday, April 25th. Finally, Scotiabank lowered their target price on shares of Russel Metals from C$50.00 to C$48.50 and set a sector perform rating for the company in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of C$47.07.

Russel Metals Stock Performance

RUS opened at C$37.09 on Tuesday. The stock has a market capitalization of C$2.23 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.59 and a beta of 1.57. The company has a fifty day moving average of C$38.20 and a 200 day moving average of C$41.91. Russel Metals has a fifty-two week low of C$33.38 and a fifty-two week high of C$47.39. The company has a debt-to-equity ratio of 25.43, a quick ratio of 1.44 and a current ratio of 4.37.

Russel Metals (TSE:RUS) last posted its earnings results on Wednesday, May 1st. The company reported C$0.82 earnings per share for the quarter, beating the consensus estimate of C$0.80 by C$0.02. Russel Metals had a net margin of 5.54% and a return on equity of 14.72%. The company had revenue of C$1.06 billion during the quarter, compared to analysts’ expectations of C$1.16 billion. As a group, sell-side analysts forecast that Russel Metals will post 3.5267452 earnings per share for the current fiscal year.

Russel Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, June 14th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Wednesday, May 29th. This is an increase from Russel Metals’s previous quarterly dividend of $0.40. Russel Metals’s dividend payout ratio (DPR) is currently 42.42%.

Insider Buying and Selling

In related news, Director Stewart Burton purchased 3,000 shares of Russel Metals stock in a transaction that occurred on Friday, June 21st. The shares were bought at an average price of C$36.35 per share, with a total value of C$109,050.00. 0.81% of the stock is currently owned by insiders.

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.