Russel Metals (TSE:RUS) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Russel Metals Inc. (TSE:RUS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$40.17 and traded as high as C$41.35. Russel Metals shares last traded at C$41.27, with a volume of 107,587 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank of Canada raised Russel Metals from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$45.00 to C$51.00 in a research note on Tuesday, November 26th. TD Securities boosted their target price on shares of Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Raymond James increased their price target on shares of Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus boosted their price objective on shares of Russel Metals from C$54.50 to C$57.00 in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Russel Metals currently has a consensus rating of “Moderate Buy” and an average price target of C$50.50.

Russel Metals Stock Performance

The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85. The firm has a market cap of C$2.42 billion, a P/E ratio of 12.03, a P/E/G ratio of 0.59 and a beta of 1.52. The company’s 50 day moving average is C$43.00 and its 200 day moving average is C$40.17.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.02). Russel Metals had a net margin of 4.87% and a return on equity of 12.67%. The firm had revenue of C$1.09 billion during the quarter, compared to the consensus estimate of C$1.06 billion.

Russel Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, November 27th. Russel Metals’s payout ratio is 48.98%.

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.