Stifel Nicolaus Boosts Russel Metals (TSE:RUS) Price Target to C$57.00

Russel Metals (TSE:RUS) had its price objective upped by Stifel Nicolaus from C$54.50 to C$57.00 in a report released on Friday morning,BayStreet.CA reports.

Other equities analysts also recently issued reports about the company. Raymond James increased their target price on Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. Royal Bank of Canada raised their price objective on Russel Metals from C$43.00 to C$45.00 in a report on Friday, November 8th. National Bankshares cut their price objective on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, TD Securities raised their price objective on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.64.

Russel Metals Stock Performance

TSE RUS opened at C$43.80 on Friday. The business’s 50-day moving average price is C$40.92 and its 200 day moving average price is C$38.97. Russel Metals has a twelve month low of C$35.20 and a twelve month high of C$47.39. The company has a market capitalization of C$2.57 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The company has a current ratio of 3.85, a quick ratio of 1.44 and a debt-to-equity ratio of 16.88.

Russel Metals (TSE:RUS) last released its earnings results on Wednesday, November 6th. The company reported C$0.59 earnings per share for the quarter, missing the consensus estimate of C$0.61 by C($0.02). Russel Metals had a return on equity of 12.67% and a net margin of 4.87%. The business had revenue of C$1.09 billion for the quarter, compared to analysts’ expectations of C$1.06 billion.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.68 annualized dividend and a dividend yield of 3.84%. Russel Metals’s payout ratio is currently 48.98%.

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.