Analysts Offer Predictions for Russel Metals FY2024 Earnings

Russel Metals Inc. (TSE:RUS) – Analysts at Stifel Canada decreased their FY2024 EPS estimates for shares of Russel Metals in a report issued on Tuesday, November 12th. Stifel Canada analyst I. Gillies now anticipates that the company will post earnings of $2.91 per share for the year, down from their previous forecast of $2.93. Stifel Canada also issued estimates for Russel Metals’ Q4 2024 earnings at $0.66 EPS and Q1 2025 earnings at $1.01 EPS.

Other analysts have also issued reports about the stock. Stifel Nicolaus boosted their price objective on shares of Russel Metals from C$53.00 to C$54.50 in a report on Wednesday. TD Securities boosted 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 note on Tuesday. BMO Capital Markets decreased their price objective on shares of Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on shares of Russel Metals from C$43.00 to C$45.00 in a report on Friday, November 8th. Finally, Raymond James boosted their target price on Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$49.29.

Russel Metals Price Performance

Shares of RUS stock opened at C$42.32 on Thursday. The firm’s 50-day moving average is C$39.98 and its two-hundred day moving average is C$38.78. Russel Metals has a 12 month low of C$35.20 and a 12 month high of C$47.39. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. The company 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.

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

Russel Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 27th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.97%. Russel Metals’s dividend payout ratio (DPR) is presently 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.