FY2024 EPS Estimates for Russel Metals Lowered by Analyst

Russel Metals Inc. (TSE:RUS) – Investment analysts at Raymond James decreased their FY2024 earnings estimates for shares of Russel Metals in a research note issued to investors on Tuesday, January 21st. Raymond James analyst F. Bastien now anticipates that the company will post earnings per share of $2.92 for the year, down from their previous forecast of $3.05. Raymond James also issued estimates for Russel Metals’ Q4 2024 earnings at $0.50 EPS, Q3 2025 earnings at $1.25 EPS and Q4 2025 earnings at $1.06 EPS.

Several other research analysts also recently commented on the stock. TD Securities raised their price target on shares of Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada raised shares of 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. Finally, Stifel Nicolaus boosted their price target on shares of Russel Metals from C$54.50 to C$57.00 in a research note on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$50.50.

Russel Metals Stock Down 0.5 %

Russel Metals stock opened at C$42.32 on Wednesday. Russel Metals has a 1-year low of C$35.20 and a 1-year high of C$47.39. The firm has a market capitalization of C$2.48 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 0.59 and a beta of 1.52. 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 50 day simple moving average of C$42.93 and a 200 day simple moving average of C$40.31.

Russel Metals (TSE:RUS) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of C$1.06 billion.

Russel Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Wednesday, November 27th. 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.