Russel Metals Inc. (TSE:RUS) to Post FY2023 Earnings of $4.15 Per Share, National Bank Financial Forecasts

Posted by Defense World Staff on Jul 13th, 2023

Russel Metals Inc. (TSE:RUS – Free Report) – Investment analysts at National Bank Financial issued their FY2023 earnings per share (EPS) estimates for shares of Russel Metals in a research report issued on Sunday, July 9th. National Bank Financial analyst M. Sytchev anticipates that the company will post earnings of $4.15 per share for the year. The consensus estimate for Russel Metals’ current full-year earnings is $4.40 per share. National Bank Financial also issued estimates for Russel Metals’ FY2024 earnings at $3.43 EPS.

Russel Metals (TSE:RUS – Get Free Report) last announced its quarterly earnings results on Monday, May 8th. The company reported C$1.19 EPS for the quarter, topping analysts’ consensus estimates of C$0.99 by C$0.20. The business had revenue of C$1.19 billion for the quarter, compared to analysts’ expectations of C$1.20 billion. Russel Metals had a return on equity of 23.62% and a net margin of 7.06%.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price target on Russel Metals from C$42.00 to C$41.00 in a research note on Thursday, June 29th. BMO Capital Markets upped their price target on Russel Metals from C$34.00 to C$36.00 in a research note on Tuesday, May 9th. TD Securities upped their price target on Russel Metals from C$37.00 to C$39.00 and gave the stock a “hold” rating in a research note on Tuesday, May 16th. Finally, National Bankshares set a C$41.00 price target on Russel Metals and gave the stock a “sector perform” rating in a research note on Monday.

Russel Metals Price Performance

RUS opened at C$36.86 on Wednesday. The company has a debt-to-equity ratio of 26.07, a quick ratio of 1.44 and a current ratio of 3.53. Russel Metals has a 52-week low of C$23.80 and a 52-week high of C$37.85. The stock has a market capitalization of C$2.30 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. The stock’s 50 day moving average price is C$35.90 and its 200-day moving average price is C$34.06.

Russel Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.40 per share. This is an increase from Russel Metals’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Monday, May 29th. Russel Metals’s dividend payout ratio is presently 28.88%.

Russel Metals Company Profile

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Russel Metals Inc operates as a metal distribution company in Canada and the United States. It operates through Metals Service Centers, Energy Field Stores, and Steel Distributors segments. 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.