Russel Metals FY2024 EPS Lowered by National Bank Financial

Russel Metals Inc. (TSE:RUS) – Equities researchers at National Bank Financial dropped their FY2024 earnings per share (EPS) estimates for Russel Metals in a research report issued to clients and investors on Tuesday, December 3rd. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings of $2.89 per share for the year, down from their prior forecast of $2.95. National Bank Financial also issued estimates for Russel Metals’ Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $1.17 EPS, Q3 2025 earnings at $1.10 EPS and FY2026 earnings at $4.21 EPS.

Russel Metals (TSE:RUS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.02). The company had revenue of C$1.09 billion during the quarter, compared to analysts’ expectations of C$1.06 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

Several other research firms have also issued reports on RUS. TD Securities upped their price objective on Russel Metals from C$46.00 to C$50.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus increased their price target on shares of Russel Metals from C$54.50 to C$57.00 in a report on Friday, November 22nd. Royal Bank of Canada raised shares of Russel Metals from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$45.00 to C$51.00 in a research report on Tuesday, November 26th. Finally, Raymond James lifted their target price on Russel Metals from C$50.00 to C$56.00 in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$50.50.

Russel Metals Price Performance

RUS opened at C$45.55 on Thursday. The company has a fifty day moving average price of C$41.66 and a two-hundred day moving average price of C$39.23. The firm has a market capitalization of C$2.67 billion, a PE ratio of 13.28, a P/E/G ratio of 0.59 and a beta of 1.52. Russel Metals has a 52 week low of C$35.20 and a 52 week high of C$47.39. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.68 annualized dividend and a yield of 3.69%. Russel Metals’s payout ratio is 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.