Analysts Issue Forecasts for Russel Metals Q3 Earnings

Russel Metals Inc. (TSE:RUS) – National Bank Financial reduced their Q3 2024 EPS estimates for Russel Metals in a research report issued to clients and investors on Monday, October 21st. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $0.67 per share for the quarter, down from their previous estimate of $0.82. National Bank Financial also issued estimates for Russel Metals’ Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.08 EPS and FY2025 earnings at $4.16 EPS.

A number of other equities research analysts have also recently commented on RUS. Royal Bank of Canada lowered their price objective on shares of Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. National Bankshares lowered their price target on shares of Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Securities upgraded Russel Metals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$44.00 to C$46.00 in a research report on Monday, September 16th. Stifel Nicolaus reduced 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 note on Friday, August 2nd. Finally, BMO Capital Markets dropped their price target on Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$46.93.

Russel Metals Trading Down 2.7 %

Shares of RUS stock opened at C$39.66 on Wednesday. The stock has a market cap of C$2.33 billion, a P/E ratio of 11.56, a P/E/G 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. Russel Metals has a fifty-two week low of C$33.38 and a fifty-two week high of C$47.39. The business has a fifty day simple moving average of C$38.95 and a 200-day simple moving average of C$38.87.

Russel Metals (TSE:RUS) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.84 earnings per share for the quarter, beating the consensus estimate of C$0.83 by C$0.01. The firm had revenue of C$1.07 billion during the quarter, compared to the consensus estimate of C$1.08 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

Russel Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 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 4.24%. The ex-dividend date was Wednesday, August 28th. Russel Metals’s dividend payout ratio is presently 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.