Scotiabank Trims Russel Metals (TSE:RUS) Target Price to C$48.50

Russel Metals (TSE:RUS) had its price objective lowered by Scotiabank from C$50.00 to C$48.50 in a research note released on Wednesday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other research analysts have also commented on the company. TD Securities upped their price objective on Russel Metals from C$43.00 to C$48.00 and gave the company a hold rating in a report on Monday, February 12th. Stifel Nicolaus decreased their price objective on Russel Metals from C$56.00 to C$55.50 in a report on Wednesday, March 13th. Royal Bank of Canada upped their price objective on Russel Metals from C$42.00 to C$47.00 in a report on Tuesday, December 19th. Raymond James upped their price objective on Russel Metals from C$47.00 to C$50.00 in a report on Wednesday, December 20th. Finally, BMO Capital Markets upped their price objective on Russel Metals from C$44.00 to C$46.00 and gave the company an outperform rating in a report on Friday, February 9th. Three 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, Russel Metals has an average rating of Moderate Buy and a consensus target price of C$48.07.

Russel Metals Stock Down 0.7 %

RUS opened at C$39.36 on Wednesday. Russel Metals has a 1-year low of C$33.18 and a 1-year high of C$47.39. The stock’s fifty day simple moving average is C$43.88 and its 200 day simple moving average is C$41.59. The company has a current ratio of 4.14, a quick ratio of 1.44 and a debt-to-equity ratio of 25.76. The stock has a market cap of C$2.38 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54.

Russel Metals (TSE:RUS) last posted its quarterly earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.06. Russel Metals had a return on equity of 16.67% and a net margin of 5.92%. The business had revenue of C$1.02 billion for the quarter, compared to analysts’ expectations of C$1.06 billion. As a group, research analysts expect that Russel Metals will post 3.7672493 earnings per share for the current year.

Russel Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.07%. The ex-dividend date was Wednesday, February 28th. Russel Metals’s dividend payout ratio (DPR) is presently 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.