Russel Metals (TSE:RUS) Price Target Raised to C$50.00 at TD Securities

Russel Metals (TSE:RUS) had its price objective upped by TD Securities from C$46.00 to C$50.00 in a research report released on Tuesday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other brokerages also recently weighed in on RUS. Stifel Nicolaus cut their price target on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. National Bankshares cut 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. BMO Capital Markets reduced their target price on shares of Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price target on shares of Russel Metals from C$43.00 to C$45.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Russel Metals currently has an average rating of “Moderate Buy” and an average target price of C$49.29.

Russel Metals Price Performance

Shares of RUS opened at C$42.32 on Tuesday. The company has a market cap of C$2.48 billion, a P/E ratio of 12.34, a PEG ratio of 0.59 and a beta of 1.52. Russel Metals has a fifty-two week low of C$35.20 and a fifty-two week high of C$47.39. 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 firm’s 50 day moving average price is C$39.98 and its 200 day moving average price is C$38.78.

Russel Metals (TSE:RUS) last posted its quarterly earnings data 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 company had revenue of C$1.09 billion for the quarter, compared to analysts’ expectations of C$1.06 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

Russel Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Wednesday, November 27th. Russel Metals’s payout ratio is 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.