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

Russel Metals Inc. (TSE:RUS) – Equities researchers at National Bank Financial lowered their Q2 2024 EPS estimates for Russel Metals in a research note issued on Thursday, May 2nd. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings of $0.90 per share for the quarter, down from their prior 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 issued its quarterly earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, beating the consensus estimate of C$0.72 by C$0.06. Russel Metals had a return on equity of 16.67% and a net margin of 5.92%. The company had revenue of C$1.02 billion during the quarter, compared to analysts’ expectations of C$1.06 billion.

A number of other equities analysts have also recently issued reports on RUS. Stifel Nicolaus cut their price target on Russel Metals from C$55.50 to C$54.00 and set a “buy” rating on the stock in a report on Friday, April 19th. BMO Capital Markets raised their price target 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 dropped their price objective on shares of Russel Metals from C$52.00 to C$48.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. TD Securities dropped their price target on Russel Metals from C$48.00 to C$45.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. 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 issued a buy rating to the company’s stock. According to MarketBeat, Russel Metals has an average rating of “Moderate Buy” and a consensus price target of C$47.64.

Russel Metals Price Performance

Shares of TSE RUS 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 company has a market capitalization of C$2.35 billion, a PE ratio of 9.02, a P/E/G ratio of 0.59 and a beta of 1.54. The firm has a fifty day simple moving average of C$42.34 and a 200 day simple moving average of C$41.98. Russel Metals has a twelve month low of C$33.38 and a twelve month high of C$47.39.

Russel Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th will be paid a $0.42 dividend. 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 an increase from Russel Metals’s previous quarterly dividend of $0.40. Russel Metals’s payout ratio is presently 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.