FY2024 EPS Forecast for Russel Metals Reduced by Analyst

Russel Metals Inc. (TSE:RUS) – National Bank Financial cut their FY2024 earnings per share estimates for shares of Russel Metals in a research note issued to investors on Tuesday, December 3rd. National Bank Financial analyst M. Sytchev now expects that the company will post earnings of $2.89 per share for the year, down from their previous forecast of $2.95. National Bank Financial also issued estimates for Russel Metals’ Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $1.17 EPS, Q3 2025 earnings at $1.10 EPS and FY2026 earnings at $4.21 EPS.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.02). The firm had revenue of C$1.09 billion during the quarter, compared to analyst estimates of C$1.06 billion. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%.

Other analysts have also recently issued reports about the company. Royal Bank of Canada raised Russel Metals from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$45.00 to C$51.00 in a research report on Tuesday, November 26th. Stifel Nicolaus lifted their price objective on shares of Russel Metals from C$54.50 to C$57.00 in a research report on Friday, November 22nd. Raymond James increased their price objective on shares of Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. Finally, TD Securities lifted their target price on shares of Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$50.50.

Russel Metals Trading Down 0.9 %

Shares of TSE:RUS opened at C$45.40 on Thursday. Russel Metals has a 52-week low of C$35.20 and a 52-week 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 company has a market capitalization of C$2.66 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The company has a 50-day simple moving average of C$41.86 and a 200 day simple moving average of C$39.32.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, November 27th. Russel Metals’s dividend payout ratio (DPR) is currently 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.