Stifel Canada Decreases Earnings Estimates for Russel Metals

Russel Metals Inc. (TSE:RUS) – Stock analysts at Stifel Canada cut their FY2024 earnings per share estimates for shares of Russel Metals in a research report issued to clients and investors on Wednesday, October 16th. Stifel Canada analyst I. Gillies now forecasts that the company will post earnings of $3.05 per share for the year, down from their prior estimate of $3.23.

Several other brokerages have also recently commented on RUS. National Bankshares dropped 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. Royal Bank of Canada decreased their target price 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. Stifel Nicolaus lowered their target price on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. TD Securities raised shares of Russel Metals from a “hold” rating to a “buy” rating and upped their price target for the company from C$44.00 to C$46.00 in a report on Monday, September 16th. Finally, BMO Capital Markets dropped their target price on shares of Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.93.

Russel Metals Stock Up 0.7 %

RUS stock opened at C$40.83 on Friday. The firm’s 50-day moving average is C$38.86 and its two-hundred day moving average is C$39.04. 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 company has a market capitalization of C$2.40 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. Russel Metals has a 52 week low of C$33.38 and a 52 week high of C$47.39.

Russel Metals (TSE:RUS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.84 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.83 by C$0.01. The business had revenue of C$1.07 billion for the quarter, compared to analysts’ expectations of C$1.08 billion. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%.

Russel Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, August 28th. Russel Metals’s dividend payout ratio (DPR) is currently 48.98%.

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.