Russel Metals FY2024 EPS Forecast Reduced by Stifel Canada

Russel Metals Inc. (TSE:RUS - Free Report) - Equities researchers at Stifel Canada decreased their FY2024 earnings per share (EPS) estimates for Russel Metals in a research note issued to investors on Tuesday, November 12th. Stifel Canada analyst I. Gillies now anticipates that the company will post earnings of $2.91 per share for the year, down from their previous forecast of $2.93. Stifel Canada also issued estimates for Russel Metals' Q4 2024 earnings at $0.66 EPS and Q1 2025 earnings at $1.01 EPS.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada lifted their target price on Russel Metals from C$43.00 to C$45.00 in a research note on Friday, November 8th. TD Securities boosted their price target on Russel Metals from C$46.00 to C$50.00 and gave the company a "buy" rating in a report on Tuesday. Raymond James increased their target price on Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday. Stifel Nicolaus lifted their price target on shares of Russel Metals from C$53.00 to C$54.50 in a research note on Wednesday. Finally, National Bankshares lowered their target price on shares of Russel Metals from C$47.00 to C$46.00 and set an "outperform" rating on the stock in a research note 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of C$49.29.

Russel Metals Stock Down 2.6 %

RUS stock traded down C$1.12 during trading on Thursday, hitting C$42.49. 57,884 shares of the company's stock traded hands, compared to its average volume of 184,695. Russel Metals has a 1 year low of C$35.20 and a 1 year high of C$47.39. The business has a fifty day simple moving average of C$39.87 and a two-hundred day simple moving average of C$38.76. The firm has a market capitalization of C$2.49 billion, a P/E ratio of 12.71, a PEG ratio of 0.59 and a beta of 1.52. 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 (TSE:RUS - Get Free Report) last released 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 business had revenue of C$1.09 billion for the quarter, compared to the consensus estimate of C$1.06 billion. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%.

Russel Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.95%. 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.