Russel Metals (TSE:RUS) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Russel Metals (TSE:RUS) from a sector perform rating to an outperform rating in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm currently has C$51.00 price objective on the stock, up from their previous price objective of C$45.00.

A number of other equities research analysts have also weighed in on RUS. National Bankshares lowered their target price on shares of Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus increased their price objective on Russel Metals from C$54.50 to C$57.00 in a research note on Friday, November 22nd. Raymond James lifted their target price on Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. Finally, TD Securities upped their price target on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Russel Metals currently has an average rating of “Moderate Buy” and a consensus target price of C$50.50.

Russel Metals Trading Up 0.7 %

TSE RUS opened at C$45.96 on Tuesday. Russel Metals has a 52 week low of C$35.20 and a 52 week high of C$47.39. The business has a 50 day moving average price of C$41.19 and a 200-day moving average price of C$39.06. The company has a quick ratio of 1.44, a current ratio of 3.85 and a debt-to-equity ratio of 16.88. The company has a market cap of C$2.70 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.02). Russel Metals had a net margin of 4.87% and a return on equity of 12.67%. The business had revenue of C$1.09 billion for the quarter, compared to the consensus estimate of C$1.06 billion.

Russel Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.66%. Russel Metals’s dividend payout ratio (DPR) is currently 48.98%.

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.