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

Russel Metals Inc. (TSE:RUS) – Research analysts at Raymond James decreased their Q2 2024 EPS estimates for Russel Metals in a research note issued on Tuesday, April 16th. Raymond James analyst F. Bastien now anticipates that the company will post earnings per share of $0.95 for the quarter, down from their previous estimate of $1.10. Raymond James currently has a “Outperform” rating and a $48.00 price objective 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.

A number of other research firms have also commented on RUS. BMO Capital Markets raised their price objective on shares of Russel Metals from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Stifel Nicolaus reduced their target price on shares of Russel Metals from C$55.50 to C$54.00 and set a “buy” rating for the company in a report on Friday. Scotiabank reduced their target price on shares of Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a report on Wednesday. Finally, TD Securities raised their price objective on shares of Russel Metals from C$43.00 to C$48.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Russel Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of C$48.07.

Russel Metals Price Performance

TSE RUS opened at C$39.36 on Thursday. Russel Metals has a 12 month low of C$33.18 and a 12 month high of C$47.39. 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 firm has a market capitalization of C$2.38 billion, a PE ratio of 9.09, a P/E/G ratio of 0.59 and a beta of 1.54. The company’s 50 day simple moving average is C$43.88 and its 200 day simple moving average is C$41.59.

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 the consensus estimate 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 company had revenue of C$1.02 billion for the quarter, compared to analyst estimates of C$1.06 billion.

Russel Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Wednesday, February 28th. Russel Metals’s dividend payout ratio (DPR) 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.