Analysts Set Expectations for Russel Metals FY2024 Earnings

Russel Metals Inc. (TSE:RUS) – National Bank Financial lowered their FY2024 EPS estimates for shares of Russel Metals in a note issued to investors on Wednesday, January 22nd. National Bank Financial analyst M. Sytchev now expects that the company will post earnings of $2.84 per share for the year, down from their prior forecast of $2.89. National Bank Financial also issued estimates for Russel Metals’ Q4 2024 earnings at $0.54 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $1.20 EPS, Q3 2025 earnings at $1.11 EPS and Q4 2025 earnings at $0.86 EPS.

Russel Metals (TSE:RUS) last announced its quarterly earnings results 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). The company had revenue of C$1.09 billion during the quarter, compared to the consensus estimate of C$1.06 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

A number of other brokerages have also recently commented on RUS. Raymond James increased their price target on shares of Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. TD Securities raised their target price on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada raised Russel Metals from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$45.00 to C$51.00 in a report on Tuesday, November 26th. Finally, Stifel Nicolaus raised their price objective on Russel Metals from C$54.50 to C$57.00 in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$50.50.

Russel Metals Price Performance

Shares of RUS opened at C$42.70 on Friday. The firm has a market cap of C$2.51 billion, a PE ratio of 12.45, a P/E/G ratio of 0.59 and a beta of 1.52. 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 has a fifty day simple moving average of C$42.91 and a two-hundred day simple moving average of C$40.34.

Russel Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.93%. Russel Metals’s dividend payout ratio 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.