Russel Metals (TSE:RUS) Posts Quarterly Earnings Results

by · The Markets Daily

Russel Metals (TSE:RUS – Get Free Report) issued its quarterly earnings data on Thursday. The company reported C$1.63 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$1.66 billion for the quarter. Russel Metals had a net margin of 4.04% and a return on equity of 12.22%.

Russel Metals Price Performance

Shares of Russel Metals stock traded up C$10.71 during trading hours on Friday, reaching C$80.96. The company’s stock had a trading volume of 463,103 shares, compared to its average volume of 231,316. The firm has a 50 day moving average price of C$64.91 and a 200-day moving average price of C$55.63. The company has a debt-to-equity ratio of 29.50, a current ratio of 2.86 and a quick ratio of 1.44. The stock has a market cap of C$4.45 billion, a P/E ratio of 22.74, a P/E/G ratio of 0.59 and a beta of 1.21. Russel Metals has a one year low of C$39.09 and a one year high of C$81.05.

Russel Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were issued a $0.44 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.2%. Russel Metals’s payout ratio is 48.31%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RUS. Royal Bank Of Canada increased their price objective on shares of Russel Metals from C$63.00 to C$68.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Raymond James Financial upped their target price on shares of Russel Metals from C$65.00 to C$70.00 in a report on Friday, June 5th. National Bank Financial increased their price target on shares of Russel Metals from C$52.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Monday, July 13th. BMO Capital Markets lifted their price target on shares of Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday, May 6th. Finally, Scotia lifted their price target on shares of Russel Metals from C$54.00 to C$62.00 and gave the company a “sector outperform” rating in a report on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$61.17.

Check Out Our Latest Stock Report on Russel Metals

Insider Buying and Selling at Russel Metals

In related news, Director Brian Robie Hedges sold 10,000 shares of Russel Metals stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of C$63.25, for a total value of C$632,500.00. Also, insider John Gregory Reid sold 28,935 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of C$58.62, for a total value of C$1,696,169.70. Following the sale, the insider directly owned 306,147 shares in the company, valued at C$17,946,337.14. The trade was a 8.64% decrease in their ownership of the stock. Insiders sold a total of 63,735 shares of company stock worth $3,849,245 in the last 90 days. 0.85% of the stock is currently owned by insiders.

About Russel Metals

(Get Free Report)

Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.

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