Q2 2024 Earnings Estimate for Russel Metals Inc. (TSE:RUS) Issued By National Bank Financial

Russel Metals Inc. (TSE:RUS) – Stock analysts at National Bank Financial cut their Q2 2024 EPS estimates for shares of Russel Metals in a report released on Thursday, May 2nd. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings of $0.90 per share for the quarter, down from their previous estimate of $0.94. The consensus estimate for Russel Metals’ current full-year earnings is $3.59 per share. National Bank Financial also issued estimates for Russel Metals’ Q3 2024 earnings at $0.95 EPS and FY2024 earnings at $3.60 EPS.

Russel Metals (TSE:RUS) last issued its earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.06. The business had revenue of C$1.02 billion during the quarter, compared to analysts’ expectations of C$1.06 billion. Russel Metals had a return on equity of 16.67% and a net margin of 5.92%.

A number of other brokerages have also recently issued reports on RUS. BMO Capital Markets increased their target price on shares of Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Stifel Nicolaus reduced their target price on Russel Metals from C$55.50 to C$54.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Raymond James decreased their price target on Russel Metals from C$52.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. TD Securities cut their price objective on Russel Metals from C$48.00 to C$45.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Finally, Scotiabank decreased their target price on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating on the stock in a report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$47.64.

Russel Metals Stock Up 1.5 %

Shares of TSE RUS opened at C$39.10 on Monday. Russel Metals has a 52-week low of C$33.38 and a 52-week high of C$47.39. The company has a debt-to-equity ratio of 25.76, a quick ratio of 1.44 and a current ratio of 4.14. The business has a fifty day moving average of C$42.49 and a two-hundred day moving average of C$41.94. The stock has a market cap of C$2.35 billion, a PE ratio of 9.03, a PEG ratio of 0.59 and a beta of 1.54.

Russel Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, June 14th will be issued a $0.42 dividend. This is a boost from Russel Metals’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $1.68 annualized dividend and a yield of 4.30%. Russel Metals’s dividend payout ratio (DPR) is currently 36.95%.

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.