Analysts Offer Predictions for Russel Metals FY2024 Earnings

Russel Metals Inc. (TSE:RUS) – Analysts at National Bank Financial reduced their FY2024 EPS estimates for shares of Russel Metals in a research note issued to investors on Tuesday, December 3rd. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $2.89 per share for the year, down from their prior forecast of $2.95. National Bank Financial also issued estimates for Russel Metals’ Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $1.17 EPS, Q3 2025 earnings at $1.10 EPS and FY2026 earnings at $4.21 EPS.

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

RUS has been the subject of several other research reports. Royal Bank of Canada upgraded shares of Russel Metals from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$45.00 to C$51.00 in a research report on Tuesday, November 26th. Raymond James increased their price objective on shares of Russel Metals from C$50.00 to C$56.00 in a report on Wednesday, November 13th. Stifel Nicolaus increased their price objective on shares of Russel Metals from C$54.50 to C$57.00 in a report on Friday, November 22nd. Finally, TD Securities increased their price objective on shares of Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$50.50.

Russel Metals Stock Performance

Shares of Russel Metals stock opened at C$45.79 on Thursday. The firm has a market cap of C$2.69 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The firm’s 50-day simple moving average is C$41.66 and its 200-day simple moving average is C$39.23. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85. Russel Metals has a 1 year low of C$35.20 and a 1 year high of C$47.39.

Russel Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, November 27th. Russel Metals’s payout ratio is 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.