Scotiabank Issues Positive Forecast for Russel Metals (TSE:RUS) Stock Price

Russel Metals (TSE:RUS) had its price target boosted by Scotiabank from C$48.00 to C$52.00 in a report issued on Thursday morning,BayStreet.CA reports.

RUS has been the subject of several other reports. Royal Bank Of Canada raised their target price on shares of Russel Metals from C$47.00 to C$51.00 in a report on Wednesday, January 14th. Raymond James Financial lowered their target price on Russel Metals from C$56.00 to C$54.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Finally, National Bankshares boosted 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. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$51.83.

Russel Metals Stock Performance

RUS opened at C$48.56 on Thursday. Russel Metals has a 1-year low of C$34.62 and a 1-year high of C$49.51. The stock has a market cap of C$2.70 billion, a P/E ratio of 16.63, a P/E/G ratio of 0.59 and a beta of 1.10. The stock’s 50 day simple moving average is C$44.23 and its 200 day simple moving average is C$42.63. The company has a debt-to-equity ratio of 20.28, a current ratio of 3.37 and a quick ratio of 1.44.

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

Russel Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were issued a $0.43 dividend. The ex-dividend date was Thursday, November 27th. This represents a $1.72 annualized dividend and a yield of 3.5%. Russel Metals’s payout ratio is 58.22%.

Russel Metals Company Profile

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.