Russel Metals Inc to Post Q3 2019 Earnings of $0.38 Per Share, Raymond James Forecasts (TSE:RUS)

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Russel Metals Inc (TSE:RUS) – Raymond James dropped their Q3 2019 EPS estimates for Russel Metals in a report released on Thursday, October 17th. Raymond James analyst F. Bastien now anticipates that the company will post earnings per share of $0.38 for the quarter, down from their prior forecast of $0.48. Raymond James currently has a “Outperform” rating and a $25.00 price target on the stock. Raymond James also issued estimates for Russel Metals’ Q4 2019 earnings at $0.43 EPS, FY2019 earnings at $1.85 EPS, Q1 2020 earnings at $0.53 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.55 EPS and FY2020 earnings at $2.15 EPS.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lowered their price objective on shares of Russel Metals from C$26.00 to C$24.00 in a report on Thursday, July 4th. TD Securities lowered shares of Russel Metals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$24.00 to C$22.00 in a report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price objective on shares of Russel Metals from C$25.00 to C$22.00 and set a “sector perform” rating for the company in a report on Monday, August 12th.

Shares of RUS opened at C$20.75 on Monday. The firm has a market cap of $1.28 billion and a price-to-earnings ratio of 7.19. The company has a debt-to-equity ratio of 70.63, a quick ratio of 1.15 and a current ratio of 2.99. Russel Metals has a fifty-two week low of C$18.47 and a fifty-two week high of C$28.00. The firm has a 50 day moving average price of C$20.82 and a 200-day moving average price of C$21.55.

Russel Metals (TSE:RUS) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.48 by C$0.02. The business had revenue of C$936.70 million during the quarter.

In other news, Director James Francis Dinning purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of C$20.34 per share, for a total transaction of C$50,851.00. Following the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately C$508,510. Also, Director Brian Robie Hedges purchased 4,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of C$19.84 per share, with a total value of C$79,360.00. Following the completion of the acquisition, the director now directly owns 119,477 shares in the company, valued at C$2,370,423.68.

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.

See Also: Front-End Load

Earnings History and Estimates for Russel Metals (TSE:RUS)

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