Russel Metals (TSE:RUS) Price Target Raised to C$62.00 at Scotia

Russel Metals (TSE:RUS) had its price target lifted by Scotia from C$54.00 to C$62.00 in a report published on Thursday,BayStreet.CA reports. Scotia currently has a sector outperform rating on the stock.

A number of other research firms also recently commented on RUS. TD Securities lifted their target price on shares of Russel Metals from C$50.00 to C$57.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Royal Bank Of Canada lifted their target price on shares of Russel Metals from C$51.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Stifel Nicolaus lifted their target price on shares of Russel Metals from C$49.00 to C$50.50 and gave the stock a “hold” rating in a research report on Friday, February 13th. Scotiabank lifted their target price on shares of Russel Metals from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Finally, BMO Capital Markets lifted their target price on shares of Russel Metals from C$51.00 to C$56.00 in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$58.94.

Russel Metals Price Performance

Shares of RUS opened at C$56.21 on Thursday. The company has a market capitalization of C$3.09 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 0.59 and a beta of 0.95. The company has a quick ratio of 1.44, a current ratio of 3.06 and a debt-to-equity ratio of 30.44. The firm has a 50 day moving average of C$49.14 and a 200 day moving average of C$45.97. Russel Metals has a twelve month low of C$39.09 and a twelve month high of C$58.69.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$1.30 earnings per share for the quarter. The company had revenue of C$1.42 billion during the quarter. Russel Metals had a net margin of 3.64% and a return on equity of 10.44%.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, May 28th. Russel Metals’s payout ratio is 56.81%.

Key Stories Impacting Russel Metals

Here are the key news stories impacting Russel Metals this week:

• Positive Sentiment: Raymond James raised its price target to C$65.00 and kept an “outperform” rating, implying ~15.1% upside versus the current share level. Raymond James raises target
• Positive Sentiment: Royal Bank of Canada raised its target to C$63.00 and moved to “outperform,” implying ~11.5% upside. RBC raises target TickerReport
• Positive Sentiment: Scotia raised its target to C$62.00 and assigned a “sector outperform” — roughly a 9.8% implied upside. Scotia raises target
• Positive Sentiment: Stifel Nicolaus lifted its target to C$58.50 and kept a “hold” rating (?3.6% implied upside). Stifel raises target
• Positive Sentiment: Russel declared a quarterly dividend of C$0.44 per share (annualized yield ~3.1%); record date is June 15 and the ex-dividend date is May 28 — a shareholder-friendly move that supports income-focused investors.
• Neutral Sentiment: BMO Capital Markets raised its target to C$56.00 (a modest change that still implies a small ~1.5% downside vs. the current level) — a mixed signal despite the raise. BMO raises target
• Negative Sentiment: National Bank Financial raised its target to C$52.00 but kept an “outperform” — that target sits ~7.9% below the current share price and could weigh on sentiment for short-term traders. National Bank raises target

About Russel Metals

Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.