Raymond James Cuts Russel Metals (TSE:RUS) Price Target to C$48.00

Russel Metals (TSE:RUSFree Report) had its price objective reduced by Raymond James from C$52.00 to C$48.00 in a research report released on Wednesday, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock. Raymond James also issued estimates for Russel Metals’ Q2 2024 earnings at $0.95 EPS, Q3 2024 earnings at $1.10 EPS and FY2024 earnings at $4.00 EPS.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank reduced their target price 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 lowered their target price on Russel Metals from C$56.00 to C$55.50 in a research note on Wednesday, March 13th. TD Securities upped their price objective on Russel Metals from C$43.00 to C$48.00 and gave the company a hold rating in a research note on Monday, February 12th. BMO Capital Markets increased 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 research report on Friday, February 9th. Finally, Royal Bank of Canada increased their target price on shares of Russel Metals from C$42.00 to C$47.00 in a research report on Tuesday, December 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of C$48.07.

Check Out Our Latest Analysis on RUS

Russel Metals Stock Performance

Shares of RUS opened at C$39.36 on Wednesday. The company has a debt-to-equity ratio of 25.76, a quick ratio of 1.44 and a current ratio of 4.14. Russel Metals has a twelve month low of C$33.18 and a twelve month high of C$47.39. The firm 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. The firm’s 50 day moving average price is C$43.88 and its two-hundred day moving average price is C$41.59.

Russel Metals (TSE:RUSGet Free Report) last issued 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. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%. The business had revenue of C$1.02 billion for the quarter, compared to the consensus estimate of C$1.06 billion. On average, analysts forecast that Russel Metals will post 3.7672493 EPS for the current fiscal year.

Russel Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 4.07%. Russel Metals’s dividend payout ratio is currently 36.95%.

About Russel Metals

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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.

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Analyst Recommendations for Russel Metals (TSE:RUS)

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