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

Russel Metals Inc. (TSE:RUS) – Analysts at Raymond James lowered their Q2 2024 EPS estimates for shares of Russel Metals in a report released on Thursday, May 2nd. Raymond James analyst F. Bastien now expects that the company will earn $0.80 per share for the quarter, down from their previous estimate of $0.95. 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 $3.59 per share. Raymond James also issued estimates for Russel Metals’ Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.70 EPS, Q1 2025 earnings at $1.08 EPS, Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.21 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $4.55 EPS.

Russel Metals (TSE:RUS) last posted its quarterly earnings data on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, beating 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 analysts’ expectations of C$1.06 billion.

A number of other equities analysts have also commented on the stock. Stifel Nicolaus reduced their target price on shares of Russel Metals from C$55.50 to C$54.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Scotiabank reduced their price objective on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating on the stock in a report on Wednesday, April 17th. BMO Capital Markets upped their target price on Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Finally, TD Securities cut their price target on shares of Russel Metals from C$48.00 to C$45.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$47.64.

Russel Metals Trading Down 0.1 %

TSE RUS opened at C$39.06 on Monday. Russel Metals has a 12 month low of C$33.38 and a 12 month high of C$47.39. The company’s 50-day moving average price is C$42.34 and its 200-day moving average price is C$41.98. The stock has a market cap of C$2.35 billion, a PE ratio of 9.02, a PEG ratio of 0.59 and a beta of 1.54. The company has a current ratio of 4.14, a quick ratio of 1.44 and a debt-to-equity ratio of 25.76.

Russel Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, May 29th. This is a boost from Russel Metals’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 4.30%. Russel Metals’s dividend payout ratio is currently 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.