FY2024 EPS Estimates for Russel Metals Cut by Stifel Canada

Russel Metals Inc. (TSE:RUS) – Investment analysts at Stifel Canada lowered their FY2024 earnings estimates for shares of Russel Metals in a research note issued on Tuesday, November 12th. Stifel Canada analyst I. Gillies now forecasts that the company will earn $2.91 per share 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 issued 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). 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 return on equity of 12.67% and a net margin of 4.87%.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada increased their price target on Russel Metals from C$43.00 to C$45.00 in a research note on Friday, November 8th. Raymond James lifted their target price on shares of Russel Metals from C$50.00 to C$56.00 in a research note on Wednesday. National Bankshares cut their price target on shares of Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Russel Metals from C$53.00 to C$54.50 in a research note on Wednesday. Finally, BMO Capital Markets cut their target price on Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$49.29.

Russel Metals Trading Down 3.0 %

TSE:RUS opened at C$42.32 on Thursday. The firm has a 50 day moving average of C$39.98 and a 200 day moving average of C$38.78. 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 52 week low of C$35.20 and a 52 week high of C$47.39. The stock has a market capitalization of C$2.48 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.59 and a beta of 1.52.

Russel Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.68 annualized dividend and a dividend yield of 3.97%. Russel Metals’s dividend payout ratio (DPR) 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.