Russel Metals Inc. Expected to Earn FY2023 Earnings of $4.35 Per Share (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Research analysts at National Bank Financial decreased their FY2023 earnings estimates for shares of Russel Metals in a research report issued on Thursday, November 9th. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $4.35 per share for the year, down from their previous forecast of $4.42. The consensus estimate for Russel Metals’ current full-year earnings is $3.67 per share. National Bank Financial also issued estimates for Russel Metals’ Q4 2023 earnings at $0.80 EPS.

Several other research firms also recently issued reports on RUS. Royal Bank of Canada raised their price target on shares of Russel Metals from C$40.00 to C$42.00 and gave the company a “sector perform” rating in a research note on Monday, August 14th. TD Securities boosted their target price on shares of Russel Metals from C$39.00 to C$43.00 and gave the company a “hold” rating in a research note on Tuesday, August 15th. BMO Capital Markets boosted their price target on shares of Russel Metals from C$40.00 to C$41.00 in a research report on Monday, August 14th. Stifel Nicolaus upped their target price on shares of Russel Metals from C$45.50 to C$46.00 and gave the stock a “buy” rating in a report on Friday. Finally, Scotiabank boosted their price target on shares of Russel Metals from C$42.00 to C$43.00 and gave the stock a “sector perform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$42.86.

Russel Metals Stock Performance

Shares of TSE:RUS opened at C$37.87 on Monday. The company has a quick ratio of 1.44, a current ratio of 3.93 and a debt-to-equity ratio of 25.29. The firm has a market cap of C$2.30 billion, a PE ratio of 8.45, a PEG ratio of 0.59 and a beta of 1.47. The company’s 50 day moving average price is C$36.64 and its two-hundred day moving average price is C$36.86. Russel Metals has a 12-month low of C$27.45 and a 12-month high of C$40.52.

Russel Metals (TSE:RUS) last released its quarterly earnings results on Thursday, August 10th. The company reported C$1.37 earnings per share for the quarter, beating the consensus estimate of C$1.27 by C$0.10. Russel Metals had a net margin of 6.05% and a return on equity of 17.31%. The firm had revenue of C$1.19 billion for the quarter, compared to analysts’ expectations of C$1.26 billion.

Russel Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Tuesday, November 28th. Russel Metals’s payout ratio is presently 35.71%.

About Russel Metals

Russel Metals Inc operates as a metal distribution company in Canada and the United States. It operates through Metals Service Centers, Energy Field Stores, and Steel Distributors segments. 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.