Russel Metals (TSE:RUS) Price Target Cut to C$48.00 by Analysts at Raymond James

Russel Metals (TSE:RUS) had its target price decreased by Raymond James from C$52.00 to C$48.00 in a report issued on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target points to a potential upside of 21.12% from the company’s previous close. Raymond James also issued estimates for Russel Metals’ Q2 2024 earnings at $0.95 EPS and FY2024 earnings at $4.00 EPS.

Other analysts have also issued research reports about the stock. Stifel Nicolaus reduced their price target on shares of Russel Metals from C$56.00 to C$55.50 in a research report on Wednesday, March 13th. Scotiabank cut their target price 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. Royal Bank of Canada lifted their price target on Russel Metals from C$42.00 to C$47.00 in a research note on Tuesday, December 19th. BMO Capital Markets boosted their price target on Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Finally, TD Securities raised their price objective on Russel Metals from C$43.00 to C$48.00 and gave the company a “hold” rating in a research note on Monday, February 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$48.29.

Russel Metals Price Performance

Russel Metals stock opened at C$39.63 on Wednesday. The firm has a market cap of C$2.39 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. The company has a debt-to-equity ratio of 25.76, a current ratio of 4.14 and a quick ratio of 1.44. The stock’s fifty day moving average price is C$43.99 and its two-hundred day moving average price is C$41.58. Russel Metals has a one year low of C$32.95 and a one year high of C$47.39.

Russel Metals (TSE:RUS) last posted its quarterly earnings results on Thursday, February 8th. The company reported C$0.78 EPS for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.06. The business had revenue of C$1.02 billion during the quarter, compared to the consensus estimate of C$1.06 billion. Russel Metals had a return on equity of 16.67% and a net margin of 5.92%. As a group, research analysts expect that Russel Metals will post 3.7672493 EPS for the current fiscal year.

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.