Russel Metals (TSE:RUS) Price Target Cut to C$48.50

Russel Metals (TSE:RUS) had its target price decreased by equities researchers at Scotiabank from C$50.00 to C$48.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 22.38% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada upped their target price on Russel Metals from C$42.00 to C$47.00 in a research note on Tuesday, December 19th. Stifel Nicolaus reduced their price target on shares of Russel Metals from C$56.00 to C$55.50 in a research note on Wednesday, March 13th. Raymond James boosted their price objective on shares of Russel Metals from C$47.00 to C$50.00 in a research report on Wednesday, December 20th. BMO Capital Markets raised their target price on shares of Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, TD Securities boosted their price target on Russel Metals from C$43.00 to C$48.00 and gave the company a “hold” rating in a report on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$48.29.

Russel Metals Stock Performance

TSE RUS opened at C$39.63 on Wednesday. The business’s 50 day moving average price is C$43.99 and its 200-day moving average price is C$41.58. Russel Metals has a fifty-two week low of C$32.95 and a fifty-two week high of C$47.39. The company has a market cap of C$2.39 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.59 and a beta of 1.54. The company has a debt-to-equity ratio of 25.76, a quick ratio of 1.44 and a current ratio of 4.14.

Russel Metals (TSE:RUS) last posted its quarterly earnings data on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.06. The business had revenue of C$1.02 billion for the quarter, compared to analysts’ expectations of C$1.06 billion. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%. Sell-side analysts predict that Russel Metals will post 3.7672493 earnings per share for the current year.

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.