Royal Bank of Canada Trims Russel Metals (TSE:RUS) Target Price to C$43.00

Russel Metals (TSE:RUS) had its price target cut by Royal Bank of Canada from C$47.00 to C$43.00 in a research report released on Tuesday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts also recently commented on the stock. Scotiabank cut their target price on shares of 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. Stifel Nicolaus cut their target price 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. TD Securities cut their target price on shares of 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, Raymond James cut their target price on shares of Russel Metals from C$52.00 to C$48.00 and set an outperform rating for the company in a research report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Russel Metals has a consensus rating of Moderate Buy and an average target price of C$47.07.

Russel Metals Price Performance

Shares of TSE RUS opened at C$36.76 on Tuesday. Russel Metals has a twelve month low of C$33.38 and a twelve month high of C$47.39. The firm has a market cap of C$2.21 billion, a P/E ratio of 9.28, a PEG ratio of 0.59 and a beta of 1.57. The company has a 50 day moving average of C$38.09 and a 200 day moving average of C$41.84. 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 (TSE:RUS) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C$0.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of C$1.16 billion. As a group, research analysts expect that Russel Metals will post 3.5267452 EPS for the current fiscal year.

Russel Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, June 14th were given a dividend of $0.42 per share. This is an increase from Russel Metals’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, May 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.57%. Russel Metals’s payout ratio is presently 42.42%.

Insider Activity

In other Russel Metals news, Director Stewart Burton acquired 3,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was purchased at an average price of C$36.35 per share, with a total value of C$109,050.00. Insiders own 0.81% of the company’s stock.

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.