Russel Metals (TSE:RUS) Reaches New 52-Week High After Analyst Upgrade

Russel Metals Inc. (TSE:RUS)’s stock price hit a new 52-week high during trading on Thursday after Royal Bank Of Canada raised their price target on the stock from C$47.00 to C$51.00. The company traded as high as C$48.05 and last traded at C$47.73, with a volume of 254610 shares. The stock had previously closed at C$46.14.

A number of other equities research analysts have also commented on RUS. Raymond James Financial reduced their price target on Russel Metals from C$56.00 to C$54.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. National Bankshares upped their target price on Russel Metals from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Scotiabank raised shares of Russel Metals to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Stifel Nicolaus lowered their price target on shares of Russel Metals from C$49.00 to C$48.00 and set a “buy” rating for the company in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$51.80.

Russel Metals Price Performance

The stock has a market capitalization of C$2.69 billion, a P/E ratio of 16.55, a PEG ratio of 0.59 and a beta of 1.10. The company has a debt-to-equity ratio of 20.28, a quick ratio of 1.44 and a current ratio of 3.37. The business has a fifty day simple moving average of C$42.53 and a 200-day simple moving average of C$42.37.

Russel Metals (TSE:RUS) last released its earnings results on Wednesday, November 5th. The company reported C$0.63 earnings per share (EPS) for the quarter. The company had revenue of C$1.17 billion for the quarter. Russel Metals had a net margin of 4.27% and a return on equity of 11.03%.

Russel Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, November 27th. Russel Metals’s dividend payout ratio is 58.22%.

Russel Metals Company Profile

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.