National Bank Financial Analysts Reduce Earnings Estimates for Russel Metals Inc. (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Equities researchers at National Bank Financial reduced their Q2 2024 EPS estimates for shares of Russel Metals in a research report issued on Thursday, May 2nd. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings per share of $0.90 for the quarter, down from their prior forecast of $0.94. The consensus estimate for Russel Metals’ current full-year earnings is $3.59 per share. National Bank Financial also issued estimates for Russel Metals’ Q3 2024 earnings at $0.95 EPS and FY2024 earnings at $3.60 EPS.

Russel Metals (TSE:RUS) last posted its earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.06. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%. The firm had revenue of C$1.02 billion for the quarter, compared to the consensus estimate of C$1.06 billion.

A number of other analysts also recently weighed in on RUS. BMO Capital Markets boosted their target price on shares of Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Stifel Nicolaus dropped their price target on shares of Russel Metals from C$55.50 to C$54.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Raymond James dropped their price target on shares of Russel Metals from C$52.00 to C$48.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. TD Securities dropped their price target on shares of Russel Metals from C$48.00 to C$45.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Finally, Scotiabank dropped their price target on shares of Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.64.

Russel Metals Stock Performance

Russel Metals stock opened at C$38.52 on Monday. The company’s 50-day moving average price is C$42.63 and its 200-day moving average price is C$41.91. Russel Metals has a twelve month low of C$33.38 and a twelve month high of C$47.39. The company has a quick ratio of 1.44, a current ratio of 4.14 and a debt-to-equity ratio of 25.76. The company has a market cap of C$2.31 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54.

Russel Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.36%. This is a boost from Russel Metals’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, May 29th. 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.