Q2 2024 Earnings Forecast for Russel Metals Inc. (TSE:RUS) Issued By Raymond James

Russel Metals Inc. (TSE:RUS) – Research analysts at Raymond James cut their Q2 2024 earnings per share (EPS) estimates for shares of Russel Metals in a research note issued on Thursday, May 2nd. Raymond James analyst F. Bastien now forecasts that the company will earn $0.80 per share for the quarter, down from their prior forecast of $0.95. Raymond James currently has a “Outperform” rating and a $48.00 target price on the stock. The consensus estimate for Russel Metals’ current full-year earnings is $3.59 per share. Raymond James also issued estimates for Russel Metals’ Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.70 EPS, Q1 2025 earnings at $1.08 EPS, Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.21 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $4.55 EPS.

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

Russel Metals Stock Performance

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 business’s fifty day moving average is C$42.49 and its 200 day moving average is C$41.94. 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 firm has a market cap of C$2.35 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.59 and a beta of 1.54.

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, beating analysts’ consensus estimates of C$0.72 by C$0.06. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%. The business had revenue of C$1.02 billion for the quarter, compared to analysts’ expectations of C$1.06 billion.

Russel Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, June 14th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, May 29th. This is an increase from Russel Metals’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.30%. Russel Metals’s payout ratio 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.