Russel Metals (TSE:RUS) PT Lowered to C$48.00 at Raymond James

Russel Metals (TSE:RUS) had its target price lowered by Raymond James from C$52.00 to C$48.00 in a research report released on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock. Raymond James also issued estimates for Russel Metals’ Q2 2024 earnings at $0.95 EPS, Q3 2024 earnings at $1.10 EPS and FY2024 earnings at $4.00 EPS.

Several other research firms have also issued reports on RUS. Stifel Nicolaus reduced their price target on Russel Metals from C$56.00 to C$55.50 in a research report on Wednesday, March 13th. TD Securities raised their price target on Russel Metals from C$43.00 to C$48.00 and gave the stock a hold rating in a research report on Monday, February 12th. BMO Capital Markets raised their price target on 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. Royal Bank of Canada raised their price target on Russel Metals from C$42.00 to C$47.00 in a research report on Tuesday, December 19th. Finally, Scotiabank reduced their price target on Russel Metals from C$50.00 to C$48.50 and set a sector perform rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$48.07.

Russel Metals Price Performance

Shares of Russel Metals stock opened at C$39.36 on Wednesday. The company has a current ratio of 4.14, a quick ratio of 1.44 and a debt-to-equity ratio of 25.76. The firm has a market capitalization of C$2.38 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. The business’s 50-day moving average price is C$43.88 and its 200-day moving average price is C$41.59. Russel Metals has a 12 month low of C$33.18 and a 12 month high of C$47.39.

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

Russel Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Wednesday, February 28th. Russel Metals’s dividend payout ratio (DPR) is currently 36.95%.

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.