FY2024 EPS Estimate for Russel Metals Decreased by Analyst

Russel Metals Inc. (TSE:RUS) – Investment analysts at Raymond James dropped their FY2024 earnings per share estimates for shares of Russel Metals in a research report issued to clients and investors on Tuesday, January 21st. Raymond James analyst F. Bastien now forecasts that the company will post earnings of $2.92 per share for the year, down from their prior forecast of $3.05. Raymond James also issued estimates for Russel Metals’ Q4 2024 earnings at $0.50 EPS, Q3 2025 earnings at $1.25 EPS and Q4 2025 earnings at $1.06 EPS.

Other analysts also recently issued reports about the company. Stifel Nicolaus raised their target price on Russel Metals from C$54.50 to C$57.00 in a research report on Friday, November 22nd. Royal Bank of Canada upgraded Russel Metals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$45.00 to C$51.00 in a research note on Tuesday, November 26th. Finally, TD Securities lifted their target price on shares of Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$50.50.

Russel Metals Stock Up 2.5 %

RUS opened at C$42.55 on Wednesday. Russel Metals has a twelve month low of C$35.20 and a twelve month high of C$47.39. The company’s 50-day moving average price is C$42.94 and its two-hundred day moving average price is C$40.27. The stock has a market cap of C$2.50 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.59 and a beta of 1.52. 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 (TSE:RUS) last released its earnings results 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 for 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%.

Russel Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Wednesday, November 27th. Russel Metals’s payout ratio is 48.98%.

Russel Metals Company Profile

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.