Q2 2024 EPS Estimates for Russel Metals Inc. (TSE:RUS) Lowered by Raymond James

Russel Metals Inc. (TSE:RUS) – Research analysts at Raymond James decreased their Q2 2024 earnings per share (EPS) estimates for Russel Metals in a report issued on Thursday, May 2nd. Raymond James analyst F. Bastien now forecasts that the company will post earnings of $0.80 per share for the quarter, down from their prior estimate of $0.95. Raymond James has a “Outperform” rating and a $48.00 price objective on the stock. The consensus estimate for Russel Metals’ current full-year earnings is $3.59 per share. Raymond James also issued estimates for Russel Metals’ Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.70 EPS, Q1 2025 earnings at $1.08 EPS, Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.21 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $4.55 EPS.

Other equities analysts have also issued research reports about the company. Scotiabank cut their price target on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a research note on Wednesday, April 17th. TD Securities reduced their target price on Russel Metals from C$48.00 to C$45.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. BMO Capital Markets lifted their price target on shares of Russel Metals from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus reduced their price objective on shares of Russel Metals from C$55.50 to C$54.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Russel Metals has a consensus rating of “Moderate Buy” and an average price target of C$47.64.

Russel Metals Trading Up 1.5 %

Shares of Russel Metals stock opened at C$39.10 on Monday. The firm has a 50-day simple moving average of C$42.49 and a two-hundred day simple moving average of C$41.94. The company has a debt-to-equity ratio of 25.76, a quick ratio of 1.44 and a current ratio of 4.14. Russel Metals has a fifty-two week low of C$33.38 and a fifty-two week high of C$47.39. The company has a market cap of C$2.35 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54.

Russel Metals (TSE:RUS) last posted its earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.72 by C$0.06. The firm had revenue of C$1.02 billion during the quarter, compared to analysts’ expectations of C$1.06 billion. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%.

Russel Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.30%. The ex-dividend date is Wednesday, May 29th. This is a boost from Russel Metals’s previous quarterly dividend of $0.40. Russel Metals’s payout ratio is 36.95%.

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.