Russel Metals (TSE:RUS) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Russel Metals Inc. (TSE:RUS - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$39.87 and traded as high as C$42.12. Russel Metals shares last traded at C$42.10, with a volume of 59,422 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RUS shares. TD Securities boosted their target price on shares of Russel Metals from C$46.00 to C$50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Royal Bank of Canada upgraded shares of Russel Metals from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from C$45.00 to C$51.00 in a report on Tuesday, November 26th. Raymond James upped their price objective on shares of Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their target price on Russel Metals from C$54.50 to C$57.00 in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$50.50.

Russel Metals Stock Performance

The firm has a market capitalization of C$2.47 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The firm's 50-day moving average price is C$42.75 and its two-hundred day moving average price is C$39.92. 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 (TSE:RUS - Get Free Report) last announced its quarterly 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). Russel Metals had a return on equity of 12.67% and a net margin of 4.87%. The business had revenue of C$1.09 billion for the quarter, compared to the consensus estimate of C$1.06 billion.

Russel Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid 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 3.99%. Russel Metals's dividend payout ratio is currently 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.