Raymond James Forecasts Strong Price Appreciation for Russel Metals (TSE:RUS) Stock

Russel Metals (TSE:RUS) had its price target lifted by equities researchers at Raymond James from C$50.00 to C$56.00 in a research report issued on Wednesday,BayStreet.CA reports. Raymond James’ price objective indicates a potential upside of 27.27% from the company’s current price. Raymond James also issued estimates for Russel Metals’ Q4 2024 earnings at $0.62 EPS, FY2024 earnings at $3.05 EPS, Q2 2025 earnings at $1.23 EPS, Q3 2025 earnings at $1.16 EPS, Q4 2025 earnings at $0.86 EPS and FY2025 earnings at $4.25 EPS.

A number of other research firms have also weighed in on RUS. Royal Bank of Canada raised their price objective on Russel Metals from C$43.00 to C$45.00 in a research report on Friday, November 8th. BMO Capital Markets lowered their price target on Russel Metals from C$46.00 to C$45.00 in a research report on Wednesday, July 24th. Stifel Nicolaus increased their price objective on shares of Russel Metals from C$53.00 to C$54.50 in a research report on Wednesday. TD Securities lifted their target price on shares of Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, National Bankshares cut their price target 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Russel Metals has a consensus rating of “Moderate Buy” and a consensus price target of C$49.29.

Russel Metals Stock Up 2.7 %

RUS traded up C$1.16 during trading on Wednesday, reaching C$44.00. The stock had a trading volume of 92,912 shares, compared to its average volume of 184,995. The company has a current ratio of 3.85, a quick ratio of 1.44 and a debt-to-equity ratio of 16.88. The company has a market capitalization of C$2.58 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 0.59 and a beta of 1.52. The stock’s 50 day moving average is C$39.75 and its two-hundred day moving average is C$38.73. Russel Metals has a one year low of C$35.20 and a one year high of C$47.39.

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

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.