Stifel Nicolaus Cuts Russel Metals (TSE:RUS) Price Target to C$48.00

Key Points

• Stifel Nicolaus has lowered its price target for Russel Metals (TSE:RUS) from C$49.00 to C$48.00, maintaining a "buy" rating but suggesting a potential upside of 19.14% from the current price.
• TD Securities also reduced its price target for Russel Metals, from C$52.00 to C$50.00, while still endorsing a "buy" rating.
• The stock currently trades at C$40.29, down C$0.40 during Friday's trading, with a 12-month high of C$46.87 and a low of C$34.62.

Russel Metals (TSE:RUS - Free Report) had its price objective lowered by Stifel Nicolaus from C$49.00 to C$48.00 in a research report released on Friday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Separately, TD Securities dropped their target price on Russel Metals from C$52.00 to C$50.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$52.00.

Russel Metals Stock Performance

Russel Metals stock traded up C$0.06 during midday trading on Friday, hitting C$40.38. 217,145 shares of the company's stock were exchanged, compared to its average volume of 158,044. The company has a debt-to-equity ratio of 20.28, a quick ratio of 1.44 and a current ratio of 3.37. Russel Metals has a 12-month low of C$34.62 and a 12-month high of C$46.87. The firm's 50 day simple moving average is C$42.44 and its 200 day simple moving average is C$41.41. The stock has a market cap of C$2.26 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 0.59 and a beta of 1.22.

Russel Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, August 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.3%. Russel Metals's payout ratio is 58.48%.

Russel Metals Company Profile

Russel Metals Inc is a Canada-based metal distribution company. The company conducts business primarily through three metals distribution segments: metals service centers; energy products; and steel distributors. The metal service centers provide processing and distribution services to a broad base of end-users.