Russel Metals FY2024 EPS Forecast Decreased by Raymond James

Russel Metals Inc. (TSE:RUS - Free Report) - Research analysts at Raymond James reduced their FY2024 earnings per share (EPS) estimates for Russel Metals in a report issued on Thursday, November 7th. Raymond James analyst F. Bastien now anticipates that the company will post earnings of $3.05 per share for the year, down from their prior forecast of $3.15. Raymond James also issued estimates for Russel Metals' Q4 2024 earnings at $0.62 EPS, Q2 2025 earnings at $1.23 EPS, Q3 2025 earnings at $1.16 EPS, Q4 2025 earnings at $0.86 EPS and FY2025 earnings at $4.25 EPS.

Russel Metals (TSE:RUS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing analysts' consensus estimates of C$0.61 by C($0.02). The firm had revenue of C$1.09 billion during the quarter, compared to analysts' expectations of C$1.06 billion. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%.

RUS has been the subject of several other research reports. TD Securities upgraded Russel Metals from a "hold" rating to a "buy" rating and upped their price target for the stock from C$44.00 to C$46.00 in a research note on Monday, September 16th. National Bankshares dropped their price target on Russel Metals from C$47.00 to C$46.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. BMO Capital Markets dropped their price target on Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. Royal Bank of Canada lifted their price target on Russel Metals from C$43.00 to C$45.00 in a research report on Friday. Finally, Stifel Nicolaus dropped their price target on Russel Metals from C$55.00 to C$52.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$47.21.

Russel Metals Stock Up 1.8 %

Shares of RUS traded up C$0.75 during trading hours on Monday, hitting C$42.95. 34,965 shares of the company were exchanged, compared to its average volume of 185,135. The company has a market cap of C$2.52 billion, a PE ratio of 12.30, a PEG ratio of 0.59 and a beta of 1.52. The firm's 50 day moving average is C$39.54 and its 200-day moving average is C$38.68. Russel Metals has a 52 week low of C$35.20 and a 52 week high of C$47.39. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85.

Russel Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be given 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 yield of 3.91%. Russel Metals's dividend payout ratio (DPR) is presently 48.98%.

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.