Russel Metals (TSE:RUS) Price Target Cut to C$24.00 by Analysts at TD Securities

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Russel Metals (TSE:RUS) had its target price reduced by TD Securities from C$27.00 to C$24.00 in a report released on Monday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other research firms have also weighed in on RUS. Royal Bank of Canada dropped their price target on shares of Russel Metals from C$25.00 to C$22.00 and set a sector perform rating on the stock in a research report on Monday. Raymond James set a C$27.00 price target on shares of Russel Metals and gave the company an outperform rating in a research report on Monday. Finally, BMO Capital Markets dropped their price target on shares of Russel Metals from C$26.00 to C$24.00 in a research report on Thursday, July 4th.

Shares of TSE RUS opened at C$18.86 on Monday. The firm has a market capitalization of $1.16 billion and a PE ratio of 5.47. The firm’s 50-day simple moving average is C$20.74. Russel Metals has a 1 year low of C$18.47 and a 1 year high of C$29.79. The company has a debt-to-equity ratio of 71.81, a current ratio of 2.75 and a quick ratio of 1.10.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date is Monday, August 26th. Russel Metals’s payout ratio is currently 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.

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