Equities Analysts Set Expectations for Russel Metals Inc.’s FY2024 Earnings (TSE:RUS)

Russel Metals Inc. (TSE:RUS) – Equities research analysts at National Bank Financial dropped their FY2024 earnings per share estimates for Russel Metals in a research note issued on Thursday, August 1st. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings of $3.26 per share for the year, down from their prior forecast of $3.57. The consensus estimate for Russel Metals’ current full-year earnings is $3.53 per share. National Bank Financial also issued estimates for Russel Metals’ FY2025 earnings at $4.03 EPS.

RUS has been the subject of several other reports. Royal Bank of Canada reduced their price objective on Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. BMO Capital Markets cut their target price on shares of Russel Metals from C$46.00 to C$45.00 in a research note on Wednesday, July 24th. National Bankshares dropped their price target on shares of Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. TD Securities dropped their price target on shares of Russel Metals from C$45.00 to C$44.00 in a research note on Friday, August 2nd. Finally, Raymond James decreased their price objective on shares of Russel Metals from C$52.00 to C$48.00 and set an “outperform” 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. According to data from MarketBeat.com, Russel Metals currently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.64.

Russel Metals Stock Up 0.1 %

Shares of Russel Metals stock opened at C$38.65 on Monday. The company has a quick ratio of 1.44, a current ratio of 4.37 and a debt-to-equity ratio of 25.43. The business has a 50-day moving average price of C$37.77 and a 200 day moving average price of C$40.84. Russel Metals has a fifty-two week low of C$33.38 and a fifty-two week high of C$47.39. The firm has a market cap of C$2.32 billion, a P/E ratio of 9.76, a P/E/G ratio of 0.59 and a beta of 1.57.

Russel Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Wednesday, August 28th. Russel Metals’s dividend payout ratio is presently 42.42%.

Insiders Place Their Bets

In other news, Director Stewart Burton purchased 3,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was bought at an average price of C$36.35 per share, with a total value of C$109,050.00. Company insiders own 0.81% of the company’s stock.

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.