Russel Metals (TSE:RUS) Upgraded by Royal Bank of Canada to “Outperform” Rating

Royal Bank of Canada upgraded shares of Russel Metals (TSE:RUS) from a sector perform rating to an outperform rating in a report published on Tuesday, Marketbeat Ratings reports. Royal Bank of Canada currently has C$51.00 price target on the stock, up from their previous price target of C$45.00.

A number of other analysts have also weighed in on RUS. TD Securities raised their target price on shares of Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus raised their price objective on Russel Metals from C$54.50 to C$57.00 in a report on Friday, November 22nd. National Bankshares lowered their target price on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Raymond James raised their price objective on shares of Russel Metals from C$50.00 to C$56.00 in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Russel Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.50.

Russel Metals Stock Up 0.7 %

Shares of RUS opened at C$45.96 on Tuesday. Russel Metals has a one year low of C$35.20 and a one year high of C$47.39. The firm has a 50 day simple moving average of C$41.19 and a two-hundred day simple moving average of C$39.06. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. The company has a market cap of C$2.70 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.59 and a beta of 1.52.

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

Russel Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.68 annualized dividend and a yield of 3.66%. Russel Metals’s payout ratio is 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.