Russel Metals (TSE:RUS) Price Target Cut to C$37.50

Russel Metals (TSE:RUS – Get Rating) had its target price dropped by equities researchers at Scotiabank from C$38.00 to C$37.50 in a report issued on Thursday, BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 24.83% from the stock’s current price.

Several other brokerages also recently issued reports on RUS. TD Securities downgraded Russel Metals from a “buy” rating to a “hold” rating and cut their price target for the company from C$36.00 to C$35.00 in a report on Friday, November 11th. Royal Bank of Canada downgraded Russel Metals from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$35.00 to C$34.00 in a report on Friday, November 11th. Finally, Stifel Nicolaus lifted their target price on Russel Metals from C$40.00 to C$41.00 in a report on Monday, November 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$37.64.

Russel Metals Price Performance

TSE:RUS opened at C$30.04 on Thursday. Russel Metals has a 1-year low of C$23.80 and a 1-year high of C$36.15. The company has a current ratio of 3.21, a quick ratio of 1.44 and a debt-to-equity ratio of 27.05. The firm has a fifty day simple moving average of C$29.11 and a 200 day simple moving average of C$27.92. The stock has a market capitalization of C$1.88 billion and a PE ratio of 4.56.

Russel Metals (TSE:RUS – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported C$1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.21 by C$0.24. The business had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.14 billion. On average, research analysts expect that Russel Metals will post 3.1500001 EPS for the current fiscal year.

About Russel Metals

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Russel Metals Inc operates as a metal distribution company in North America. The company operates through three segments: Metals Service Centers, Energy Products, and Steel Distributors. The Metal Service Centers segment sells plates, flat rolled carbon, stainless steel, aluminum, and other non-ferrous specialty metal products, as well as general line steel products, such as plates, structural shapes, bars, sheets, pipes, tubing, and hollow structural steel tubing.