Russel Metals Inc (TSE:RUS) to Post Q3 2019 Earnings of $0.38 Per Share, Raymond James Forecasts

Russel Metals Inc (TSE:RUS) – Stock analysts at Raymond James cut their Q3 2019 earnings per share estimates for shares of Russel Metals in a research report issued to clients and investors on Thursday, October 17th. Raymond James analyst F. Bastien now forecasts that the company will post earnings of $0.38 per share for the quarter, down from their prior estimate of $0.48. Raymond James has a “Outperform” rating and a $25.00 price objective on the stock. Raymond James also issued estimates for Russel Metals’ Q4 2019 earnings at $0.43 EPS, FY2019 earnings at $1.85 EPS, Q1 2020 earnings at $0.53 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.55 EPS and FY2020 earnings at $2.15 EPS.

Russel Metals (TSE:RUS) last released its earnings results on Thursday, August 8th. The company reported C$0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.48 by C$0.02. The firm had revenue of C$936.70 million during the quarter.

A number of other research analysts have also issued reports on the stock. TD Securities lowered shares of Russel Metals from a “buy” rating to a “hold” rating and reduced their target price for the company from C$24.00 to C$22.00 in a report on Thursday, October 10th. BMO Capital Markets reduced their target price on shares of Russel Metals from C$26.00 to C$24.00 in a report on Thursday, July 4th. Finally, Royal Bank of Canada reduced their target price on shares of Russel Metals from C$25.00 to C$22.00 and set a “sector perform” rating on the stock in a report on Monday, August 12th.

TSE:RUS opened at C$20.65 on Monday. The firm has a market cap of $1.28 billion and a price-to-earnings ratio of 7.15. The company has a current ratio of 2.99, a quick ratio of 1.15 and a debt-to-equity ratio of 70.63. The company’s 50-day moving average is C$20.80 and its two-hundred day moving average is C$21.57. Russel Metals has a 12-month low of C$18.47 and a 12-month high of C$28.00.

In related news, Director Brian Robie Hedges acquired 4,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was bought at an average price of C$19.84 per share, with a total value of C$79,360.00. Following the purchase, the director now directly owns 119,477 shares in the company, valued at approximately C$2,370,423.68. Also, Director James Francis Dinning acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of C$20.34 per share, with a total value of C$50,851.00. Following the purchase, the director now owns 25,000 shares in the company, valued at C$508,510.

About Russel Metals

Russel Metals Inc distributes steel and metal products in North America. The company operates through three segments: Metal Service Centers, Energy Products, and Steel Distributors. The Metal Service Center segment sells plates, flat rolled carbon and general line steel products, stainless steel, aluminum, and other non-ferrous specialty metal products.

Featured Article: What does a neutral rating on stocks mean?

Earnings History and Estimates for Russel Metals (TSE:RUS)

Receive News & Ratings for Russel Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Russel Metals and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit