Russel Metals (TSE:RUS) Price Target Lowered to C$48.50 at Scotiabank

Russel Metals (TSE:RUS) had its price objective lowered by Scotiabank from C$50.00 to C$48.50 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages also recently commented on RUS. BMO Capital Markets raised their price objective on shares of Russel Metals from C$44.00 to C$46.00 and gave the company an outperform rating in a research report on Friday, February 9th. Raymond James raised their price objective on shares of Russel Metals from C$47.00 to C$50.00 in a research report on Wednesday, December 20th. Royal Bank of Canada raised their price objective on shares of Russel Metals from C$42.00 to C$47.00 in a research report on Tuesday, December 19th. Stifel Nicolaus reduced their price objective on shares of Russel Metals from C$56.00 to C$55.50 in a research report on Wednesday, March 13th. Finally, TD Securities increased their target price on shares of Russel Metals from C$43.00 to C$48.00 and gave the company a hold rating in a report on Monday, February 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of C$48.29.

Russel Metals Price Performance

Shares of RUS opened at C$39.41 on Wednesday. Russel Metals has a fifty-two week low of C$32.53 and a fifty-two week high of C$47.39. The company has a market capitalization of C$2.38 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. The firm has a 50-day simple moving average of C$44.10 and a 200-day simple moving average of C$41.59. The company has a debt-to-equity ratio of 25.76, a quick ratio of 1.44 and a current ratio of 4.14.

Russel Metals (TSE:RUS) last announced its quarterly earnings data on Thursday, February 8th. The company reported C$0.78 EPS for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.06. The firm had revenue of C$1.02 billion during the quarter, compared to the consensus estimate of C$1.06 billion. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%. On average, equities research analysts anticipate that Russel Metals will post 3.7672493 earnings per share for the current year.

Russel Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 4.06%. Russel Metals’s dividend payout ratio is currently 36.95%.

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.