Stifel Canada Decreases Earnings Estimates for Russel Metals

Russel Metals Inc. (TSE:RUS) – Equities researchers at Stifel Canada decreased their FY2024 earnings estimates for shares of Russel Metals in a research report issued to clients and investors on Tuesday, November 12th. Stifel Canada analyst I. Gillies now anticipates that the company will earn $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.

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

Several other research analysts have also issued reports on RUS. TD Securities increased their price target 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. National Bankshares cut their target price on 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. Royal Bank of Canada upped their price target on Russel Metals from C$43.00 to C$45.00 in a research report on Friday, November 8th. Raymond James boosted their target price on shares of Russel Metals from C$50.00 to C$56.00 in a research note on Wednesday. Finally, BMO Capital Markets lowered their target price on shares of Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$49.29.

Russel Metals Stock Up 1.7 %

Shares of RUS stock opened at C$43.06 on Thursday. Russel Metals has a one year low of C$35.20 and a one year high of C$47.39. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. The stock has a fifty day moving average price of C$40.11 and a 200 day moving average price of C$38.81. The stock has a market cap of C$2.53 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

Russel Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 annualized dividend and a dividend yield of 3.90%. Russel Metals’s dividend payout ratio (DPR) is currently 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.