Q2 2024 EPS Estimates for Russel Metals Inc. (TSE:RUS) Reduced by Analyst

Russel Metals Inc. (TSE:RUS) – Research analysts at National Bank Financial dropped their Q2 2024 earnings 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 of $0.90 per share for the quarter, down from their previous estimate 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 quarterly earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.06. The company had revenue of C$1.02 billion for the quarter, compared to the consensus estimate of C$1.06 billion. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%.

A number of other research analysts also recently commented on RUS. TD Securities lowered their price objective on 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. BMO Capital Markets increased their price objective 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. Raymond James reduced their target price 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. Stifel Nicolaus dropped their price target on shares of Russel Metals from C$55.50 to C$54.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Scotiabank decreased their price objective on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$47.64.

Russel Metals Stock Performance

Shares of RUS stock opened at C$39.06 on Monday. 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 business has a 50 day moving average of C$42.34 and a two-hundred day moving average of C$41.98. The company has a market cap of C$2.35 billion, a P/E ratio of 9.02, a PEG ratio of 0.59 and a beta of 1.54. Russel Metals has a 52 week low of C$33.38 and a 52 week high of C$47.39.

Russel Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 29th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, May 29th. This is a positive change from Russel Metals’s previous quarterly dividend of $0.40. Russel Metals’s dividend payout ratio (DPR) is currently 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.