Equities Analysts Set Expectations for Russel Metals Inc.’s FY2024 Earnings (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Equities research analysts at National Bank Financial reduced their FY2024 earnings per share estimates for shares of Russel Metals in a research report issued on Thursday, August 1st. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $3.26 per share for the year, down from their previous estimate of $3.57. The consensus estimate for Russel Metals’ current full-year earnings is $3.53 per share. National Bank Financial also issued estimates for Russel Metals’ FY2025 earnings at $4.03 EPS.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus cut their target price on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada dropped their price objective on Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. National Bankshares lowered their target price on 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. BMO Capital Markets lowered their target price on Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Finally, TD Securities decreased their price objective on Russel Metals from C$45.00 to C$44.00 in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$46.64.

Russel Metals Stock Up 0.1 %

RUS opened at C$38.65 on Monday. The business has a 50 day moving average price of C$37.77 and a two-hundred day moving average price of C$40.84. The company has a quick ratio of 1.44, a current ratio of 4.37 and a debt-to-equity ratio of 25.43. The company has a market cap of C$2.32 billion, a PE ratio of 9.76, a P/E/G ratio of 0.59 and a beta of 1.57. Russel Metals has a 52 week low of C$33.38 and a 52 week high of C$47.39.

Russel Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $1.68 annualized dividend and a dividend yield of 4.35%. Russel Metals’s dividend payout ratio is currently 42.42%.

Insider Buying and Selling at Russel Metals

In other news, Director Stewart Burton bought 3,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were bought at an average cost of C$36.35 per share, with a total value of C$109,050.00. 0.81% of the stock is owned by corporate insiders.

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.