Royal Bank of Canada Cuts Russel Metals (TSE:RUS) Price Target to C$22.00

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Russel Metals (TSE:RUS) had its target price cut by Royal Bank of Canada from C$25.00 to C$22.00 in a report issued on Monday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other brokerages have also recently commented on RUS. BMO Capital Markets cut their price target on shares of Russel Metals from C$26.00 to C$24.00 in a research report on Thursday, July 4th. Raymond James set a C$27.00 price target on shares of Russel Metals and gave the stock an outperform rating in a research report on Monday.

Shares of TSE:RUS opened at C$18.86 on Monday. The business’s 50-day simple moving average is C$20.74. The company has a quick ratio of 1.10, a current ratio of 2.75 and a debt-to-equity ratio of 71.81. Russel Metals has a one year low of C$18.47 and a one year high of C$29.79. The company has a market cap of $1.16 billion and a PE ratio of 5.47.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.52 annualized dividend and a yield of 8.06%. Russel Metals’s dividend payout ratio (DPR) is presently 44.06%.

About Russel Metals

Russel Metals Inc distributes steel and metal products in North America. The company operates through three segments: Metal Service Centers, Energy Products, and Steel Distributors. The Metal Service Center segment sells plates, flat rolled carbon and general line steel products, stainless steel, aluminum, and other non-ferrous specialty metal products.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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