Brokers Set Expectations for Russel Metals Inc.’s Q2 2024 Earnings (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Stock analysts at Raymond James dropped their Q2 2024 earnings per share (EPS) estimates for Russel Metals in a research note issued on Tuesday, April 16th. Raymond James analyst F. Bastien now anticipates that the company will post earnings per share of $0.95 for the quarter, down from their prior forecast of $1.10. Raymond James currently has a “Outperform” rating and a $48.00 price target on the stock. The consensus estimate for Russel Metals’ current full-year earnings is $3.77 per share. Raymond James also issued estimates for Russel Metals’ FY2024 earnings at $4.00 EPS.

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

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Russel Metals from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Scotiabank reduced 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 research report on Wednesday. Stifel Nicolaus reduced their price objective on shares of Russel Metals from C$55.50 to C$54.00 and set a “buy” rating for the company in a research report on Friday. Finally, TD Securities raised their price objective on shares of Russel Metals from C$43.00 to C$48.00 and gave the company a “hold” rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Russel Metals has an average rating of “Moderate Buy” and an average price target of C$48.07.

Russel Metals Price Performance

Shares of TSE:RUS opened at C$39.36 on Thursday. The company has a quick ratio of 1.44, a current ratio of 4.14 and a debt-to-equity ratio of 25.76. The company has a market cap of C$2.38 billion, a P/E ratio of 9.09, a PEG ratio of 0.59 and a beta of 1.54. Russel Metals has a 52 week low of C$33.18 and a 52 week high of C$47.39. The company has a 50-day moving average price of C$43.88 and a 200 day moving average price of C$41.59.

Russel Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.07%. Russel Metals’s dividend payout ratio (DPR) is 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.