Russel Metals Inc. Forecasted to Post Q2 2024 Earnings of $0.95 Per Share (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Analysts at Raymond James cut their Q2 2024 EPS estimates for Russel Metals in a research report issued on Tuesday, April 16th. Raymond James analyst F. Bastien now anticipates that the company will post earnings of $0.95 per share for the quarter, down from their prior estimate of $1.10. Raymond James has a “Outperform” rating and a $48.00 price objective 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.

A number of other brokerages also recently weighed in on RUS. Stifel Nicolaus lowered their target price on shares of Russel Metals from C$56.00 to C$55.50 in a report on Wednesday, March 13th. TD Securities upped their target price on shares of Russel Metals from C$43.00 to C$48.00 and gave the company a “hold” rating in a report on Monday, February 12th. Scotiabank reduced their price target on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a report on Wednesday. Finally, BMO Capital Markets increased their price target on Russel Metals from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and a consensus price target of C$48.29.

Russel Metals Trading Up 0.6 %

Shares of TSE:RUS opened at C$39.63 on Thursday. The company’s 50-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. 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 has a market capitalization 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.

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

Russel Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Wednesday, February 28th. Russel Metals’s dividend payout ratio is presently 36.95%.

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.