Equities Analysts Set Expectations for Russel Metals Inc.'s Q2 2024 Earnings (TSE:RUS)

Russel Metals Inc. (TSE:RUS - Free Report) - Investment analysts at Raymond James dropped their Q2 2024 earnings estimates for Russel Metals in a research note issued to investors on Tuesday, April 16th. Raymond James analyst F. Bastien now expects that the company will post earnings of $0.95 per share for the quarter, down from their prior forecast of $1.10. Raymond James 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.

Russel Metals (TSE:RUS - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.72 by C$0.06. The company had revenue of C$1.02 billion during the quarter, compared to analysts' expectations 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 the company. BMO Capital Markets boosted their price target on 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 lowered their price objective on shares of Russel Metals from C$56.00 to C$55.50 in a research report on Wednesday, March 13th. Scotiabank dropped their price objective on shares of Russel Metals from C$50.00 to C$48.50 and set a "sector perform" rating for the company in a research note on Wednesday. Finally, TD Securities increased their price objective on shares of Russel Metals from C$43.00 to C$48.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$48.29.

Russel Metals Price Performance

RUS stock traded up C$0.22 during midday trading on Thursday, reaching C$39.63. The company had a trading volume of 157,737 shares, compared to its average volume of 179,711. The company has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. The stock has a 50 day moving average price of C$43.99 and a 200-day moving average price of C$41.58. Russel Metals has a 1-year low of C$32.95 and a 1-year 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.

Russel Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Wednesday, February 28th. Russel Metals's payout ratio 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.