Raymond James Forecasts Strong Price Appreciation for Russel Metals (TSE:RUS) Stock

Russel Metals (TSE:RUS) had its target price hoisted by Raymond James from C$50.00 to C$56.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. Raymond James also issued estimates for Russel Metals’ Q4 2024 earnings at $0.62 EPS, FY2024 earnings at $3.05 EPS, Q1 2025 earnings at $1.04 EPS, Q2 2025 earnings at $1.26 EPS, Q2 2025 earnings at $1.23 EPS, Q3 2025 earnings at $1.16 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $0.86 EPS, FY2025 earnings at $4.40 EPS and FY2025 earnings at $4.25 EPS.

A number of other analysts also recently issued reports on RUS. National Bankshares dropped their target price on shares of 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. BMO Capital Markets cut their target price on shares of Russel Metals from C$46.00 to C$45.00 in a research note on Wednesday, July 24th. Stifel Nicolaus upped their price target on shares of Russel Metals from C$53.00 to C$54.50 in a research report on Wednesday. TD Securities raised their price objective on Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada upped their target price on Russel Metals from C$43.00 to C$45.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Russel Metals currently has an average rating of “Moderate Buy” and a consensus price target of C$49.29.

Russel Metals Stock Up 1.7 %

Shares of RUS opened at C$43.06 on Wednesday. The firm has a market cap of C$2.53 billion, a PE ratio of 12.55, a price-to-earnings-growth 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. The company’s fifty day moving average is C$40.11 and its two-hundred day moving average is C$38.80. 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) last issued its earnings results on Wednesday, November 6th. The company reported C$0.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 4.87% and a return on equity of 12.67%.

Russel Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th 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 3.90%. 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.