Brokers Offer Predictions for Russel Metals Inc.’s Q2 2024 Earnings (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Analysts at Raymond James dropped their Q2 2024 earnings estimates for Russel Metals in a report issued on Tuesday, April 16th. Raymond James analyst F. Bastien now expects that the company will earn $0.95 per share for the quarter, down from their prior forecast of $1.10. Raymond James has a “Outperform” rating and a $48.00 price target on the stock. The consensus estimate for Russel Metals’ current full-year earnings is $3.77 per share. Raymond James also issued estimates for Russel Metals’ FY2024 earnings at $4.00 EPS.

Other analysts have also issued reports about the stock. Stifel Nicolaus cut their target price on shares of Russel Metals from C$56.00 to C$55.50 in a research report on Wednesday, March 13th. BMO Capital Markets boosted their price target on Russel Metals from C$44.00 to C$46.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Scotiabank decreased their price objective on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, TD Securities lifted their price objective on Russel Metals from C$43.00 to C$48.00 and gave the company a “hold” rating in a research report on Monday, February 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$48.29.

Russel Metals Stock Up 0.6 %

RUS stock opened at C$39.63 on Thursday. The business’s 50-day moving average is C$43.99 and its two-hundred day moving average is C$41.58. The company has a market cap of C$2.39 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.59 and a beta of 1.54. Russel Metals has a fifty-two week low of C$32.95 and a fifty-two week high of C$47.39. 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 earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.06. The business had revenue of C$1.02 billion during the quarter, compared to analyst estimates of C$1.06 billion. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%.

Russel Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 4.04%. Russel Metals’s payout ratio is 36.95%.

Russel Metals Company Profile

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.