Scotiabank Cuts Russel Metals (TSE:RUS) Price Target to C$48.50

Russel Metals (TSE:RUS) had its price objective reduced by research analysts at Scotiabank from C$50.00 to C$48.50 in a research report issued on Wednesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 23.07% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. BMO Capital Markets boosted their price target on shares of Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Stifel Nicolaus lowered their target price on shares of Russel Metals from C$56.00 to C$55.50 in a research report on Wednesday, March 13th. Royal Bank of Canada upped their target price on shares of Russel Metals from C$42.00 to C$47.00 in a research report on Tuesday, December 19th. TD Securities upped their target price on shares of Russel Metals from C$43.00 to C$48.00 and gave the stock a “hold” rating in a research report on Monday, February 12th. Finally, Raymond James upped their target price on shares of Russel Metals from C$47.00 to C$50.00 in a research report on Wednesday, December 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Russel Metals presently has an average rating of “Moderate Buy” and a consensus target price of C$48.29.

Russel Metals Stock Performance

RUS traded down C$1.32 on Wednesday, reaching C$39.41. The company had a trading volume of 130,685 shares, compared to its average volume of 180,004. Russel Metals has a 1 year low of C$32.53 and a 1 year high of C$47.39. The company has a quick ratio of 1.44, a current ratio of 4.14 and a debt-to-equity ratio of 25.76. The stock has a 50-day moving average price of C$44.21 and a 200-day moving average price of C$41.61. The stock has a market capitalization of C$2.38 billion, a PE ratio of 9.10, a P/E/G ratio of 0.59 and a beta of 1.54.

Russel Metals (TSE:RUS) last issued its quarterly earnings results on Thursday, February 8th. The company reported C$0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.06. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%. The business had revenue of C$1.02 billion for the quarter, compared to analyst estimates of C$1.06 billion. As a group, research analysts forecast that Russel Metals will post 3.7672493 EPS for the current fiscal year.

About Russel Metals

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.