Raymond James Analysts Lower Earnings Estimates for Russel Metals Inc. (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Equities research analysts at Raymond James lowered their Q2 2024 EPS estimates for shares of Russel Metals in a report released on Thursday, May 2nd. Raymond James analyst F. Bastien now expects that the company will post earnings per share of $0.80 for the quarter, down from their prior forecast of $0.95. Raymond James currently has a “Outperform” rating and a $48.00 price target on the stock. The consensus estimate for Russel Metals’ current full-year earnings is $3.59 per share. Raymond James also issued estimates for Russel Metals’ Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.70 EPS, Q1 2025 earnings at $1.08 EPS, Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.21 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $4.55 EPS.

Russel Metals (TSE:RUS) last announced its quarterly earnings results 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 analysts’ expectations of C$1.06 billion. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%.

Several other analysts also recently issued reports on RUS. Scotiabank reduced their price target on 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. 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 report on Friday, April 19th. TD Securities dropped their price objective on Russel Metals from C$48.00 to C$45.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Finally, BMO Capital Markets raised their price target on Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$47.64.

Russel Metals Trading Down 0.1 %

Shares of Russel Metals stock opened at C$39.06 on Monday. The company has a market capitalization of C$2.35 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.59 and a beta of 1.54. The company has a debt-to-equity ratio of 25.76, a current ratio of 4.14 and a quick ratio of 1.44. The business has a fifty day simple moving average of C$42.34 and a two-hundred day simple moving average of C$41.98. Russel Metals has a 1 year low of C$33.38 and a 1 year high of C$47.39.

Russel Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Wednesday, May 29th. This is an increase from Russel Metals’s previous quarterly dividend of $0.40. 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.