Russel Metals (TSE:RUS) Issues Earnings Results

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

Russel Metals Trading Down 3.6 %

RUS stock opened at C$42.20 on Friday. The firm has a market cap of C$2.48 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The firm has a fifty day moving average price of C$39.54 and a 200 day moving average price of C$38.70. 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 has a fifty-two week low of C$35.20 and a fifty-two week high of C$47.39.

Russel Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.98%. Russel Metals’s dividend payout ratio is currently 48.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RUS. BMO Capital Markets decreased their price objective on shares of Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. TD Securities upgraded Russel Metals from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$44.00 to C$46.00 in a research report on Monday, September 16th. National Bankshares dropped their price objective on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada lifted their target price on Russel Metals from C$43.00 to C$45.00 in a research note on Friday. Finally, Stifel Nicolaus cut their price objective on shares of Russel Metals from C$55.00 to C$52.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$47.21.

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.