FY2024 EPS Forecast for Russel Metals Decreased by Analyst

Russel Metals Inc. (TSE:RUS) – Equities researchers at Raymond James reduced their FY2024 earnings per share (EPS) estimates for Russel Metals in a research note issued on Tuesday, January 21st. Raymond James analyst F. Bastien now anticipates that the company will post earnings of $2.92 per share for the year, down from their prior estimate of $3.05. Raymond James also issued estimates for Russel Metals’ Q4 2024 earnings at $0.50 EPS, Q3 2025 earnings at $1.25 EPS and Q4 2025 earnings at $1.06 EPS.

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

Several other research analysts have also recently weighed in on RUS. TD Securities boosted their price objective on shares of Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus boosted their target price on Russel Metals from C$54.50 to C$57.00 in a research report on Friday, November 22nd. Finally, Royal Bank of Canada upgraded Russel Metals from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$45.00 to C$51.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and an average price target of C$50.50.

Russel Metals Price Performance

Shares of RUS stock opened at C$41.51 on Wednesday. Russel Metals has a 1 year low of C$35.20 and a 1 year high of C$47.39. 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’s 50 day moving average is C$42.95 and its 200-day moving average is C$40.24. The firm has a market capitalization of C$2.44 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.59 and a beta of 1.52.

Russel Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Wednesday, November 27th. Russel Metals’s dividend payout ratio (DPR) 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.