Brokers Offer Predictions for Russel Metals FY2024 Earnings

Russel Metals Inc. (TSE:RUS) – Stock analysts at Stifel Canada cut their FY2024 earnings per share estimates for Russel Metals in a report released 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.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada lowered 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 price objective on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. National Bankshares lowered their price objective on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. BMO Capital Markets lowered their price objective on Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. Finally, TD Securities raised Russel Metals from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$44.00 to C$46.00 in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$46.93.

Russel Metals Trading Down 0.0 %

RUS opened at C$40.81 on Friday. Russel Metals has a 12 month low of C$33.38 and a 12 month high of C$47.39. The stock has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.59 and a beta of 1.52. 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 business has a fifty day moving average price of C$38.90 and a 200 day moving average price of C$38.98.

Russel Metals (TSE:RUS) last released its earnings results on Wednesday, July 31st. The company reported C$0.84 EPS for the quarter, topping the consensus estimate of C$0.83 by C$0.01. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%. The firm had revenue of C$1.07 billion during the quarter, compared to analysts’ expectations of C$1.08 billion.

Russel Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.12%. The ex-dividend date was Wednesday, August 28th. 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.