Russel Metals (TSE:RUS) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Russel Metals Inc. (TSE:RUS)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$40.17 and traded as high as C$41.35. Russel Metals shares last traded at C$41.27, with a volume of 107,587 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RUS. Royal Bank of Canada raised shares of Russel Metals from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$45.00 to C$51.00 in a research report on Tuesday, November 26th. Raymond James raised their price target on shares of Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on Russel Metals from C$54.50 to C$57.00 in a research report on Friday, November 22nd. Finally, TD Securities lifted their target price 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.50.

Russel Metals Stock Performance

The firm has a market cap of C$2.42 billion, a P/E ratio of 12.03, a P/E/G ratio of 0.59 and a beta of 1.52. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85. The business’s 50-day simple moving average is C$43.00 and its 200 day simple moving average is C$40.17.

Russel Metals (TSE:RUS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing the consensus estimate of C$0.61 by C($0.02). Russel Metals had a return on equity of 12.67% and a net margin of 4.87%. The firm had revenue of C$1.09 billion during 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 was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, November 27th. Russel Metals’s payout ratio 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.