Russel Metals FY2024 EPS Estimate Lowered by Stifel Canada

Russel Metals Inc. (TSE:RUS) – Equities researchers at Stifel Canada reduced their FY2024 earnings estimates for shares of Russel Metals in a research report issued on Wednesday, October 16th. Stifel Canada analyst I. Gillies now forecasts that the company will post earnings of $3.05 per share for the year, down from their previous estimate of $3.23.

Russel Metals (TSE:RUS) last posted its earnings results on Wednesday, July 31st. The company reported C$0.84 earnings per share for the quarter, beating the consensus estimate of C$0.83 by C$0.01. The company had revenue of C$1.07 billion for the quarter, compared to analyst estimates of C$1.08 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

Several other equities analysts also recently commented on RUS. National Bankshares lowered their price target on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada cut their target price on shares of Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. BMO Capital Markets decreased their price target on shares of Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. TD Securities raised Russel Metals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$44.00 to C$46.00 in a research report on Monday, September 16th. Finally, Stifel Nicolaus lowered their target price on 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Russel Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.93.

Russel Metals Stock Down 0.0 %

Shares of RUS stock opened at C$40.81 on Friday. The stock’s 50 day simple moving average is C$38.90 and its 200 day simple moving average is C$39.02. Russel Metals has a twelve month low of C$33.38 and a twelve month high of C$47.39. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85. The company has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.59 and a beta of 1.52.

Russel Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were given a $0.42 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.12%. Russel Metals’s dividend payout ratio is currently 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.