Equities Analysts Issue Forecasts for Russel Metals Inc.’s Q3 2024 Earnings (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Analysts at Raymond James cut their Q3 2024 EPS estimates for Russel Metals in a note issued to investors on Tuesday, April 16th. Raymond James analyst F. Bastien now anticipates that the company will earn $1.10 per share for the quarter, down from their prior estimate of $1.20. Raymond James currently has a “Outperform” rating and a $48.00 target price on the stock. The consensus estimate for Russel Metals’ current full-year earnings is $3.77 per share.

RUS has been the subject of several other reports. Scotiabank lowered their price objective on shares of Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a report on Wednesday. TD Securities lifted their target price on shares of Russel Metals from C$43.00 to C$48.00 and gave the company a “hold” rating in a report on Monday, February 12th. BMO Capital Markets lifted their target price on shares of Russel Metals from C$44.00 to C$46.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Finally, Stifel Nicolaus lowered their target price on shares of Russel Metals from C$56.00 to C$55.50 in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and a consensus price target of C$48.29.

Russel Metals Stock Performance

Shares of RUS opened at C$39.63 on Friday. The company has a debt-to-equity ratio of 25.76, a current ratio of 4.14 and a quick ratio of 1.44. Russel Metals has a one year low of C$32.95 and a one year high of C$47.39. The company has a 50-day simple moving average of C$43.99 and a two-hundred day simple moving average of C$41.58. The firm has a market capitalization of C$2.39 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54.

Russel Metals (TSE:RUS) last posted its earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.06. The company had revenue of C$1.02 billion during the quarter, compared to analyst estimates of C$1.06 billion. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Wednesday, February 28th. Russel Metals’s dividend payout ratio (DPR) is presently 36.95%.

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.