Analysts Set Expectations for Russel Metals Q3 Earnings

Russel Metals Inc. (TSE:RUS) – Equities research analysts at National Bank Financial lowered their Q3 2024 earnings per share (EPS) estimates for shares of Russel Metals in a research note issued to investors on Monday, October 21st. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings of $0.67 per share for the quarter, down from their previous forecast of $0.82. National Bank Financial also issued estimates for Russel Metals’ Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.08 EPS and FY2025 earnings at $4.16 EPS.

Other analysts have also recently issued research reports about the company. National Bankshares reduced their price target 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. Royal Bank of Canada reduced their price target on Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. TD Securities raised Russel Metals from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$44.00 to C$46.00 in a research report on Monday, September 16th. 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. Finally, Stifel Nicolaus cut 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Russel Metals currently has a consensus rating of “Moderate Buy” and an average target price of C$46.93.

Russel Metals Stock Performance

Shares of TSE RUS opened at C$39.54 on Wednesday. The business’s 50-day moving average price is C$39.04 and its two-hundred day moving average price is C$38.87. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. Russel Metals has a one year low of C$33.38 and a one year high of C$47.39. The company has a market capitalization of C$2.32 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$1.07 billion for the quarter, compared to the consensus estimate of C$1.08 billion.

Russel Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Wednesday, August 28th. Russel Metals’s 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.