Raymond James Reduces Earnings Estimates for Russel Metals

Russel Metals Inc. (TSE:RUS) – Investment analysts at Raymond James decreased their FY2024 earnings per share estimates for shares of Russel Metals in a research note issued to investors on Thursday, November 7th. Raymond James analyst F. Bastien now expects that the company will earn $3.05 per share for the year, down from their prior estimate of $3.15. Raymond James also issued estimates for Russel Metals’ Q4 2024 earnings at $0.62 EPS, Q2 2025 earnings at $1.23 EPS, Q3 2025 earnings at $1.16 EPS, Q4 2025 earnings at $0.86 EPS and FY2025 earnings at $4.25 EPS.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of 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. BMO Capital Markets reduced their price target on Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. TD Securities raised their price objective on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research report on Tuesday. National Bankshares reduced their target price on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their target price on shares of Russel Metals from C$43.00 to C$45.00 in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$47.79.

Russel Metals Trading Down 0.8 %

Shares of TSE RUS opened at C$42.84 on Monday. The firm has a 50 day moving average price of C$39.75 and a two-hundred day moving average price of C$38.73. The stock has a market cap of C$2.51 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. Russel Metals has a 52-week low of C$35.20 and a 52-week high of C$47.39. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85.

Russel Metals (TSE:RUS) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.61 by C($0.02). The firm had revenue of C$1.09 billion during the quarter, compared to analyst estimates 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.68 annualized dividend and a dividend yield of 3.92%. 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.