Russel Metals (TSE:RUS) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Russel Metals Inc. (TSE:RUS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$40.17 and traded as high as C$41.35. Russel Metals shares last traded at C$41.27, with a volume of 107,587 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RUS shares. Raymond James raised their target price on Russel Metals from C$50.00 to C$56.00 in a research note on Wednesday, November 13th. Royal Bank of Canada raised Russel Metals from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$45.00 to C$51.00 in a research note on Tuesday, November 26th. TD Securities boosted their price objective on shares of 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, Stifel Nicolaus upped their price objective on shares of Russel Metals from C$54.50 to C$57.00 in a 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.50.

Russel Metals Stock Performance

The company has a 50 day moving average of C$43.00 and a two-hundred day moving average of C$40.17. 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 company has a market capitalization of C$2.42 billion, a PE ratio of 12.03, a PEG ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last released 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). 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 during the quarter, compared to analysts’ expectations of C$1.06 billion.

Russel Metals Announces Dividend

The firm also recently announced 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Wednesday, November 27th. Russel Metals’s dividend payout ratio is 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.