Russel Metals’ (RUS) “Outperform” Rating Reaffirmed at Raymond James

Raymond James reissued their outperform rating on shares of Russel Metals (TSE:RUS) in a report issued on Friday, BayStreet.CA reports. They currently have a C$25.00 price objective on the stock. Raymond James also issued estimates for Russel Metals’ FY2019 earnings at $1.60 EPS, Q1 2020 earnings at $0.49 EPS and Q2 2020 earnings at $0.49 EPS.

RUS has been the subject of several other research reports. Royal Bank of Canada lowered their price target on Russel Metals from C$25.00 to C$22.00 and set a sector perform rating for the company in a research note on Monday, August 12th. TD Securities boosted their price target on Russel Metals from C$22.00 to C$24.00 and gave the company a hold rating in a research note on Friday.

Shares of TSE RUS traded up C$0.39 during trading hours on Friday, hitting C$22.92. The stock had a trading volume of 219,433 shares, compared to its average volume of 198,336. The company has a market capitalization of $1.40 billion and a P/E ratio of 7.93. The firm’s 50-day moving average price is C$21.00 and its two-hundred day moving average price is C$21.32. Russel Metals has a 52 week low of C$18.47 and a 52 week high of C$26.12. The company has a debt-to-equity ratio of 70.63, a quick ratio of 1.15 and a current ratio of 2.99.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.48 by C$0.02. The firm had revenue of C$936.70 million during the quarter. As a group, analysts expect that Russel Metals will post 2.26 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.52 dividend on an annualized basis and a yield of 6.63%. Russel Metals’s payout ratio is currently 52.65%.

In other news, Director James Francis Dinning bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of C$20.34 per share, for a total transaction of C$50,851.00. Following the completion of the purchase, the director now owns 25,000 shares of the company’s stock, valued at approximately C$508,510. Also, Director Brian Robie Hedges bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of C$19.84 per share, with a total value of C$79,360.00. Following the completion of the purchase, the director now directly owns 119,477 shares of the company’s stock, valued at approximately C$2,370,423.68.

About Russel Metals

Russel Metals Inc distributes steel and metal products in North America. The company operates through three segments: Metal Service Centers, Energy Products, and Steel Distributors. The Metal Service Center segment sells plates, flat rolled carbon and general line steel products, stainless steel, aluminum, and other non-ferrous specialty metal products.

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