Raymond James Equities Analysts Cut Earnings Estimates for Russel Metals Inc. (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Investment analysts at Raymond James lowered their Q2 2024 EPS estimates for Russel Metals in a research note issued on Tuesday, April 16th. Raymond James analyst F. Bastien now forecasts that the company will earn $0.95 per share for the quarter, down from their previous forecast of $1.10. Raymond James has a “Outperform” rating and a $48.00 price target on the stock. The consensus estimate for Russel Metals’ current full-year earnings is $3.77 per share. Raymond James also issued estimates for Russel Metals’ FY2024 earnings at $4.00 EPS.

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

Other analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their price objective on shares of Russel Metals from C$56.00 to C$55.50 in a research note on Wednesday, March 13th. TD Securities upped their price objective on shares of Russel Metals from C$43.00 to C$48.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Scotiabank decreased their price objective on shares of Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets upped their price objective on shares of Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Russel Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of C$48.29.

Russel Metals Stock Performance

TSE:RUS opened at C$39.41 on Thursday. The company has a quick ratio of 1.44, a current ratio of 4.14 and a debt-to-equity ratio of 25.76. The firm has a market capitalization of C$2.38 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. Russel Metals has a 12-month low of C$32.53 and a 12-month high of C$47.39. The firm has a 50-day moving average price of C$44.10 and a 200 day moving average price of C$41.59.

Russel Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 4.06%. Russel Metals’s dividend payout ratio (DPR) is currently 36.95%.

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.