Royal Bank Of Canada Issues Positive Forecast for Russel Metals (TSE:RUS) Stock Price

Russel Metals (TSE:RUS) had its price objective lifted by Royal Bank Of Canada from C$47.00 to C$51.00 in a research report released on Wednesday,BayStreet.CA reports.

Other equities analysts have also issued reports about the stock. Raymond James Financial reduced their target price on shares of Russel Metals from C$56.00 to C$54.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. National Bankshares lifted their price target on Russel Metals from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Scotiabank upgraded shares of Russel Metals to a “strong-buy” rating in a report on Friday, October 10th. Finally, Stifel Nicolaus lowered their target price on shares of Russel Metals from C$49.00 to C$48.00 and set a “buy” rating on the stock in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, Russel Metals currently has a consensus rating of “Buy” and an average target price of C$51.80.

Russel Metals Stock Up 3.4%

TSE RUS opened at C$47.73 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 1.44 and a debt-to-equity ratio of 20.28. The company has a market capitalization of C$2.66 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.59 and a beta of 1.10. Russel Metals has a 1-year low of C$34.62 and a 1-year high of C$48.05. The stock’s 50 day moving average is C$42.36 and its two-hundred day moving average is C$42.33.

Russel Metals (TSE:RUS) last posted its earnings results on Wednesday, November 5th. The company reported C$0.63 earnings per share (EPS) for the quarter. The company had revenue of C$1.17 billion during the quarter. Russel Metals had a net margin of 4.27% and a return on equity of 11.03%.

Russel Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, November 27th. This represents a $1.72 annualized dividend and a yield of 3.6%. Russel Metals’s payout ratio is 58.22%.

About Russel Metals

Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.