Russel Metals (TSE:RUS) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Russel Metals Inc. (TSE:RUS)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$39.04 and traded as high as C$40.99. Russel Metals shares last traded at C$40.83, with a volume of 79,921 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RUS shares. TD Securities upgraded Russel Metals from a “hold” rating to a “buy” rating and upped their price target for the company from C$44.00 to C$46.00 in a research report on Monday, September 16th. National Bankshares cut their price objective on shares of Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus lowered their price target on shares of Russel Metals from C$55.00 to C$52.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. BMO Capital Markets dropped their price target on Russel Metals from C$46.00 to C$45.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada dropped their price objective on Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and an average price target of C$46.93.

Russel Metals Stock Performance

The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85. The firm’s 50-day moving average price is C$38.90 and its two-hundred day moving average price is C$39.02. The firm has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.83 by C$0.01. The business had revenue of C$1.07 billion during the quarter, compared to analysts’ expectations of C$1.08 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

Russel Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Wednesday, August 28th. Russel Metals’s dividend payout ratio is currently 48.98%.

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.