Russel Metals (TSE:RUS) Price Target Cut to C$45.00

Russel Metals (TSE:RUS) had its price target trimmed by BMO Capital Markets from C$46.00 to C$45.00 in a research note issued to investors on Wednesday, BayStreet.CA reports.

Other research analysts have also issued research reports about the company. National Bankshares decreased their target price on Russel Metals from C$48.00 to C$47.00 and set an outperform rating for the company in a research report on Tuesday, July 16th. Stifel Nicolaus decreased their price objective on Russel Metals from C$55.50 to C$54.00 and set a buy rating for the company in a report on Friday, April 19th. Royal Bank of Canada dropped their target price on shares of Russel Metals from C$47.00 to C$43.00 and set a sector perform rating on the stock in a report on Tuesday, July 2nd. TD Securities decreased their price target on shares of Russel Metals from C$48.00 to C$45.00 and set a hold rating for the company in a research note on Thursday, April 25th. Finally, Raymond James dropped their price objective on shares of Russel Metals from C$52.00 to C$48.00 and set an outperform rating on the stock in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of C$47.21.

Russel Metals Stock Performance

TSE:RUS opened at C$40.07 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 4.37 and a debt-to-equity ratio of 25.43. Russel Metals has a twelve month low of C$33.38 and a twelve month high of C$47.39. The stock has a market cap of C$2.41 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 0.59 and a beta of 1.57. The firm’s fifty day simple moving average is C$37.67 and its 200 day simple moving average is C$41.08.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Wednesday, May 1st. The company reported C$0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.80 by C$0.02. Russel Metals had a net margin of 5.54% and a return on equity of 14.72%. The company had revenue of C$1.06 billion for the quarter, compared to analysts’ expectations of C$1.16 billion. As a group, research analysts predict that Russel Metals will post 3.5267452 EPS for the current year.

Russel Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, June 14th were paid 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 was Wednesday, May 29th. This represents a $1.68 dividend on an annualized basis and a yield of 4.19%. Russel Metals’s payout ratio is presently 42.42%.

Insider Activity at Russel Metals

In other news, Director Stewart Burton bought 3,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was acquired at an average cost of C$36.35 per share, with a total value of C$109,050.00. 0.81% of the stock is currently owned by insiders.

Russel Metals Company Profile

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.