Russel Metals (TSE:RUS) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Russel Metals Inc. (TSE:RUS)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$40.02 and traded as high as C$40.50. Russel Metals shares last traded at C$40.32, with a volume of 226,344 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Securities upped their target price on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus increased their target price on shares of Russel Metals from C$54.50 to C$57.00 in a report on Friday, November 22nd. Raymond James upped their price target on shares of Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada upgraded Russel Metals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$45.00 to C$51.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$50.50.

Russel Metals Price Performance

The stock has a market cap of C$2.37 billion, a PE ratio of 11.76, a PEG ratio of 0.59 and a beta of 1.52. The business’s 50-day simple moving average is C$42.92 and its 200-day simple moving average is C$40.02. The company has a quick ratio of 1.44, a current ratio of 3.85 and a debt-to-equity ratio of 16.88.

Russel Metals (TSE:RUS) last released 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 business had revenue of C$1.09 billion for the quarter, compared to the consensus estimate 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 firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Russel Metals’s payout ratio is 48.98%.

Russel Metals Company Profile

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.