Russel Metals (TSE:RUS) PT Lowered to C$48.00

Russel Metals (TSE:RUS) had its target price reduced by analysts at Raymond James from C$52.00 to C$48.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price would indicate 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.

A number of other equities analysts have also commented on RUS. TD Securities boosted their price objective on Russel Metals from C$43.00 to C$48.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Scotiabank reduced their price target on shares of Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating on the stock in a research report on Wednesday. Stifel Nicolaus lowered their price objective on shares of Russel Metals from C$56.00 to C$55.50 in a research report on Wednesday, March 13th. BMO Capital Markets boosted their target price on shares of Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada increased their price target on shares of Russel Metals from C$42.00 to C$47.00 in a research note on Tuesday, December 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Russel Metals presently has an average rating of “Moderate Buy” and an average price target of C$48.29.

Russel Metals Stock Up 0.6 %

Shares of TSE:RUS opened at C$39.63 on Wednesday. The company’s fifty day moving average is C$43.99 and its 200-day moving average is C$41.58. The company has a debt-to-equity ratio of 25.76, a quick ratio of 1.44 and a current ratio of 4.14. Russel Metals has a 52 week low of C$32.95 and a 52 week high of C$47.39. The company has a market capitalization of C$2.39 billion, a PE ratio of 9.15, a P/E/G ratio of 0.59 and a beta of 1.54.

Russel Metals (TSE:RUS) last issued its quarterly earnings data on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, topping the consensus estimate of C$0.72 by C$0.06. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%. The firm had revenue of C$1.02 billion for the quarter, compared to analysts’ expectations of C$1.06 billion. Equities research analysts predict that Russel Metals will post 3.7672493 earnings per share for the current fiscal year.

Russel Metals Company Profile

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.