Brokers Set Expectations for Russel Metals FY2024 Earnings

Russel Metals Inc. (TSE:RUS) – Equities research analysts at Raymond James dropped their FY2024 earnings per share (EPS) estimates for Russel Metals in a research note issued on Tuesday, January 21st. Raymond James analyst F. Bastien now forecasts that the company will post earnings of $2.92 per share for the year, down from their previous estimate of $3.05. Raymond James also issued estimates for Russel Metals’ Q4 2024 earnings at $0.50 EPS, Q3 2025 earnings at $1.25 EPS and Q4 2025 earnings at $1.06 EPS.

RUS has been the topic of several other reports. Royal Bank of Canada raised shares of Russel Metals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$45.00 to C$51.00 in a research report on Tuesday, November 26th. TD Securities boosted their price target on Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus increased their price objective on 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 given a buy rating to the company’s stock. According to MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and an average price target of C$50.50.

Russel Metals Stock Performance

Shares of RUS opened at C$41.51 on Wednesday. The firm has a market cap of C$2.44 billion, a P/E ratio of 12.10, a PEG ratio of 0.59 and a beta of 1.52. Russel Metals has a twelve month low of C$35.20 and a twelve month high of C$47.39. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85. The firm’s 50 day moving average price is C$42.95 and its two-hundred day moving average price is C$40.24.

Russel Metals (TSE:RUS) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.59 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of C$1.09 billion for the quarter, compared to the consensus estimate of C$1.06 billion.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.68 annualized dividend and a yield of 4.05%. Russel Metals’s 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.