Russel Metals (TSE:RUS) Shares Pass Above Two Hundred Day Moving Average of $39.36

Russel Metals Inc. (TSE:RUS)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$39.36 and traded as high as C$40.42. Russel Metals shares last traded at C$40.24, with a volume of 475,396 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RUS. National Bankshares cut their target price on 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. Royal Bank of Canada reduced their price objective on shares of Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 2nd. BMO Capital Markets dropped their target price on shares of Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. Stifel Nicolaus reduced their price target on shares of Russel Metals from C$55.00 to C$52.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, TD Securities raised shares of Russel Metals from a “hold” rating to a “buy” rating and increased their price objective for the company from C$44.00 to C$46.00 in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and a consensus target price of C$46.93.

Russel Metals Price Performance

The company has a quick ratio of 1.44, a current ratio of 3.85 and a debt-to-equity ratio of 16.88. The company has a market capitalization of C$2.36 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 0.59 and a beta of 1.51. The firm’s 50 day simple moving average is C$38.26 and its 200 day simple moving average is C$39.36.

Russel Metals (TSE:RUS) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.84 EPS for the quarter, beating the consensus estimate of C$0.83 by C$0.01. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%. The company had revenue of C$1.07 billion for the quarter, compared to the consensus estimate of C$1.08 billion. As a group, research analysts anticipate that Russel Metals Inc. will post 4.0968421 EPS for the current fiscal year.

Russel Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.68 annualized dividend and a dividend yield of 4.17%. Russel Metals’s dividend payout ratio (DPR) 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.