Brokers Offer Predictions for Russel Metals FY2024 Earnings

Russel Metals Inc. (TSE:RUS - Free Report) - Equities research analysts at Stifel Canada dropped their FY2024 earnings per share estimates for shares of Russel Metals in a research note issued on Thursday, November 7th. Stifel Canada analyst I. Gillies now forecasts that the company will post earnings of $2.93 per share for the year, down from their previous forecast of $3.05. Stifel Canada also issued estimates for Russel Metals' Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $0.98 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.92 EPS.

Other research analysts have also issued research reports about the company. Royal Bank of Canada boosted their price objective on Russel Metals from C$43.00 to C$45.00 in a research report on Friday. National Bankshares reduced their price target on Russel Metals from C$47.00 to C$46.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. TD Securities upgraded Russel Metals from a "hold" rating to a "buy" rating and boosted their price target for the stock from C$44.00 to C$46.00 in a research report on Monday, September 16th. BMO Capital Markets reduced their price target on Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. Finally, Stifel Nicolaus reduced their price target on Russel Metals from C$55.00 to C$52.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$47.21.

Russel Metals Stock Performance

Shares of RUS traded up C$0.75 during mid-day trading on Monday, hitting C$42.95. The stock had a trading volume of 34,965 shares, 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 company's fifty day simple moving average is C$39.54 and its two-hundred day simple moving average is C$38.68. The company has a quick ratio of 1.44, a current ratio of 3.85 and a debt-to-equity ratio of 16.88. Russel Metals has a fifty-two week low of C$35.20 and a fifty-two week high of C$47.39.

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 the consensus estimate of C$0.61 by C($0.02). The firm had revenue of C$1.09 billion during the quarter, compared to analyst estimates of C$1.06 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, November 27th. Russel Metals's dividend payout ratio (DPR) is presently 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.