Russel Metals (TSE:RUS) Upgraded to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Russel Metals (TSE:RUS) from a sector perform rating to an outperform rating in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has C$51.00 price target on the stock, up from their prior price target of C$45.00.

Other research analysts have also recently issued research reports about the company. TD Securities lifted their target price on Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. National Bankshares cut their price objective on shares of 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. Stifel Nicolaus upped their target price on shares of Russel Metals from C$54.50 to C$57.00 in a research note on Friday, November 22nd. Finally, Raymond James boosted their price target on shares of Russel Metals from C$50.00 to C$56.00 in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Russel Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.50.

Russel Metals Stock Performance

Shares of RUS stock opened at C$44.76 on Tuesday. The company has a current ratio of 3.85, a quick ratio of 1.44 and a debt-to-equity ratio of 16.88. The firm has a fifty day simple moving average of C$40.92 and a two-hundred day simple moving average of C$38.97. Russel Metals has a 12 month low of C$35.20 and a 12 month high of C$47.39. The firm has a market capitalization of C$2.63 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last posted its earnings results on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing the consensus estimate of C$0.61 by C($0.02). Russel Metals had a return on equity of 12.67% and a net margin of 4.87%. The business had revenue of C$1.09 billion for the quarter, compared to the consensus estimate of C$1.06 billion.

Russel Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be given 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 yield of 3.75%. Russel Metals’s payout ratio is currently 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.