FY2024 EPS Estimates for Russel Metals Lowered by Analyst

Russel Metals Inc. (TSE:RUS) – Stock analysts at Raymond James decreased their FY2024 earnings per share (EPS) estimates for shares of Russel Metals in a note issued to investors on Tuesday, January 21st. Raymond James analyst F. Bastien now anticipates that the company will post earnings per share of $2.92 for the year, down from their prior estimate of $3.05. Raymond James also issued estimates for Russel Metals’ Q4 2024 earnings at $0.50 EPS, Q3 2025 earnings at $1.25 EPS and Q4 2025 earnings at $1.06 EPS.

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

Russel Metals Price Performance

RUS stock opened at C$42.32 on Wednesday. The stock has a market capitalization of C$2.48 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The company’s 50-day moving average is C$42.93 and its 200-day moving average is C$40.31. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. Russel Metals has a 1 year low of C$35.20 and a 1 year high of C$47.39.

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

Russel Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.42 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.68 annualized dividend and a yield of 3.97%. Russel Metals’s dividend payout ratio (DPR) is 48.98%.

About Russel Metals

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.