Raymond James Comments on Russel Metals Inc.’s Q4 2022 Earnings (TSE:RUS)

Russel Metals Inc. (TSE:RUSGet Rating) – Investment analysts at Raymond James lifted their Q4 2022 EPS estimates for shares of Russel Metals in a report released on Thursday, April 21st. Raymond James analyst F. Bastien now forecasts that the company will post earnings per share of $0.70 for the quarter, up from their previous estimate of $0.65. Raymond James has a “Outperform” rating and a $44.00 price objective on the stock. Raymond James also issued estimates for Russel Metals’ Q2 2023 earnings at $0.80 EPS, Q3 2023 earnings at $0.70 EPS, Q4 2023 earnings at $0.80 EPS and FY2023 earnings at $3.00 EPS.

A number of other research firms have also recently weighed in on RUS. Stifel Nicolaus assumed coverage on shares of Russel Metals in a research report on Wednesday, March 16th. They set a “buy” rating and a C$36.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Russel Metals from C$40.00 to C$41.00 and gave the stock an “outperform” rating in a report on Monday. Finally, TD Securities upgraded shares of Russel Metals from a “hold” rating to a “buy” rating and set a C$40.00 price target on the stock in a report on Monday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$38.75.

RUS stock opened at C$35.62 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.69 and a debt-to-equity ratio of 32.39. Russel Metals has a twelve month low of C$27.59 and a twelve month high of C$37.57. The stock has a market capitalization of C$2.25 billion and a price-to-earnings ratio of 5.17. The firm’s fifty day simple moving average is C$32.47 and its two-hundred day simple moving average is C$32.97.

Russel Metals (TSE:RUSGet Rating) last posted its quarterly earnings data on Thursday, February 10th. The company reported C$1.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$1.55 by C$0.10. The firm had revenue of C$1.15 billion for the quarter.

About Russel Metals (Get Rating)

Russel Metals Inc operates as a metal distribution company in North America. The company operates through three segments: Metals Service Centers, Energy Products, and Steel Distributors. The Metal Service Centers segment sells plates, flat rolled carbon, stainless steel, aluminum, and other non-ferrous specialty metal products, as well as general line steel products, such as plates, structural shapes, bars, sheets, pipes, tubing, and hollow structural steel tubing.

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Earnings History and Estimates for Russel Metals (TSE:RUS)

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