BMO Capital Markets Cuts Russel Metals (TSE:RUS) Price Target to C$45.00

Russel Metals (TSE:RUS) had its price objective reduced by BMO Capital Markets from C$46.00 to C$45.00 in a research report report published on Wednesday, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on RUS. Raymond James dropped their target price on Russel Metals from C$52.00 to C$48.00 and set an outperform rating for the company in a report on Wednesday, April 17th. Scotiabank reduced their target price on shares of Russel Metals from C$50.00 to C$48.50 and set a sector perform rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada dropped their target price on shares of Russel Metals from C$47.00 to C$43.00 and set a sector perform rating for the company in a research report on Tuesday, July 2nd. National Bankshares reduced their price target on shares of Russel Metals from C$48.00 to C$47.00 and set an outperform rating on the stock in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus cut their target price on shares of Russel Metals from C$55.50 to C$54.00 and set a buy rating for the company in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Russel Metals currently has a consensus rating of Moderate Buy and an average target price of C$47.21.

Russel Metals Price Performance

Shares of TSE:RUS opened at C$40.07 on Wednesday. The firm has a market capitalization of C$2.41 billion, a PE ratio of 10.12, a PEG ratio of 0.59 and a beta of 1.57. The company has a current ratio of 4.37, a quick ratio of 1.44 and a debt-to-equity ratio of 25.43. Russel Metals has a 1-year low of C$33.38 and a 1-year high of C$47.39. The business’s 50 day moving average is C$37.67 and its 200-day moving average is C$41.08.

Russel Metals (TSE:RUS) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$0.82 EPS for the quarter, topping analysts’ consensus estimates of C$0.80 by C$0.02. The company had revenue of C$1.06 billion during the quarter, compared to the consensus estimate of C$1.16 billion. Russel Metals had a net margin of 5.54% and a return on equity of 14.72%. Sell-side analysts predict that Russel Metals will post 3.5267452 earnings per share for the current year.

Russel Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.19%. This is a positive change from Russel Metals’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, May 29th. Russel Metals’s dividend payout ratio (DPR) is presently 42.42%.

Insider Transactions at Russel Metals

In other news, Director Stewart Burton purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were acquired at an average price of C$36.35 per share, for a total transaction of C$109,050.00. 0.81% of the stock is currently owned by corporate insiders.

About Russel Metals

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.