Royal Bank of Canada Issues Positive Forecast for Russel Metals (TSE:RUS) Stock Price

Russel Metals (TSE:RUS) had its price objective increased by Royal Bank of Canada from C$43.00 to C$45.00 in a research report report published on Friday morning,BayStreet.CA reports.

A number of other research firms also recently issued reports on RUS. TD Securities upgraded Russel Metals from a “hold” rating to a “buy” rating and raised their price target for the stock from C$44.00 to C$46.00 in a research note on Monday, September 16th. Stifel Nicolaus dropped their price target 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. National Bankshares dropped their price target on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.21.

Russel Metals Stock Performance

Shares of RUS opened at C$42.20 on Friday. The business’s fifty day simple moving average is C$39.54 and its two-hundred day simple moving average is C$38.68. The company has a current ratio of 3.85, a quick ratio of 1.44 and a debt-to-equity ratio of 16.88. Russel Metals has a 12 month low of C$35.20 and a 12 month high of C$47.39. The company has a market cap of C$2.48 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last issued its earnings results on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of C$1.06 billion.

Russel Metals Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 3.98%. Russel Metals’s dividend payout ratio 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.