FY2024 EPS Estimate for Russel Metals Reduced by Analyst

Russel Metals Inc. (TSE:RUS - Free Report) - Investment analysts at National Bank Financial decreased their FY2024 earnings estimates for shares of Russel Metals in a research note issued to investors on Wednesday, January 22nd. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings per share of $2.84 for the year, down from their previous forecast of $2.89. National Bank Financial also issued estimates for Russel Metals' Q4 2024 earnings at $0.54 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $1.20 EPS, Q3 2025 earnings at $1.11 EPS and Q4 2025 earnings at $0.86 EPS.

Russel Metals (TSE:RUS - Get Free Report) last posted its quarterly 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 firm had revenue of C$1.09 billion for the quarter, compared to the consensus estimate of C$1.06 billion.

RUS has been the subject of several other reports. Royal Bank of Canada raised shares of Russel Metals from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from C$45.00 to C$51.00 in a report on Tuesday, November 26th. TD Securities boosted their price objective on Russel Metals from C$46.00 to C$50.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Raymond James raised their target price on Russel Metals from C$50.00 to C$56.00 in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price target on Russel Metals from C$54.50 to C$57.00 in a research report on Friday, November 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$50.50.

Russel Metals Stock Performance

TSE:RUS traded up C$0.38 on Friday, reaching C$42.70. 79,486 shares of the company's stock were exchanged, compared to its average volume of 135,860. The stock has a fifty day simple moving average of C$42.91 and a 200-day simple moving average of C$40.34. 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 current ratio of 3.85 and a quick ratio of 1.44. The firm has a market cap of C$2.51 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.59 and a beta of 1.52.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.68 annualized dividend and a yield of 3.93%. Russel Metals's payout ratio 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.