Royal Bank of Canada Forecasts Strong Price Appreciation for Russel Metals (TSE:RUS) Stock

Russel Metals (TSE:RUS - Free Report) had its target price raised by Royal Bank of Canada from C$43.00 to C$45.00 in a research report released on Friday morning,BayStreet.CA reports.

Other equities analysts have also issued reports about the stock. BMO Capital Markets cut their target price on shares of Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. National Bankshares cut their price objective on shares of Russel Metals from C$47.00 to C$46.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. TD Securities upgraded shares of Russel Metals from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$44.00 to C$46.00 in a research report on Monday, September 16th. Finally, Stifel Nicolaus dropped their target price 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$47.21.

Russel Metals Stock Performance

Shares of RUS stock traded down C$1.56 during mid-day trading on Friday, reaching C$42.20. The stock had a trading volume of 253,200 shares, compared to its average volume of 185,827. The company has a current ratio of 3.85, a quick ratio of 1.44 and a debt-to-equity ratio of 16.88. Russel Metals has a 1-year low of C$35.20 and a 1-year high of C$47.39. The firm has a market cap of C$2.48 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.59 and a beta of 1.52. The business's fifty day moving average is C$39.54 and its 200-day moving average is C$38.70.

Russel Metals (TSE:RUS - Get Free Report) last released its quarterly earnings data 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). Russel Metals had a net margin of 4.87% and a return on equity of 12.67%. The business had revenue of C$1.09 billion during the quarter, compared to analysts' expectations of C$1.06 billion.

Russel Metals Announces Dividend

The business also recently disclosed 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. This represents a $1.68 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Wednesday, November 27th. Russel Metals's dividend payout ratio (DPR) 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.