Analysts Issue Forecasts for Russel Metals FY2024 Earnings

Russel Metals Inc. (TSE:RUS) – Analysts at Stifel Canada cut their FY2024 earnings per share estimates for shares of Russel Metals in a note issued to investors on Thursday, November 7th. Stifel Canada analyst I. Gillies now forecasts that the company will post earnings of $2.93 per share for the year, down from their previous estimate of $3.05. Stifel Canada also issued estimates for Russel Metals’ Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $0.98 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.92 EPS.

RUS has been the subject of a number of other reports. National Bankshares lowered their target price on shares of 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. Royal Bank of Canada lifted their target price on Russel Metals from C$43.00 to C$45.00 in a report on Friday. BMO Capital Markets dropped their price target on Russel Metals from C$46.00 to C$45.00 in a research note on Wednesday, July 24th. Stifel Nicolaus reduced their price objective on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, TD Securities raised shares of Russel Metals from a “hold” rating to a “buy” rating and increased their target price for the stock from C$44.00 to C$46.00 in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and a consensus target price of C$47.21.

Russel Metals Stock Up 2.3 %

RUS opened at C$43.19 on Monday. Russel Metals has a 12 month low of C$35.20 and a 12 month high of C$47.39. The business has a 50-day moving average of C$39.65 and a two-hundred day moving average of C$38.71. 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 stock has a market capitalization of C$2.53 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

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

Russel Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 27th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, November 27th. Russel Metals’s dividend payout ratio (DPR) is presently 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.