Russel Metals (TSE:RUS) Share Price Passes Above 200-Day Moving Average – What’s Next?

Russel Metals Inc. (TSE:RUS)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$42.02 and traded as high as C$42.39. Russel Metals shares last traded at C$42.22, with a volume of 254,643 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RUS shares. Stifel Nicolaus lowered their target price on Russel Metals from C$49.00 to C$48.00 and set a “buy” rating on the stock in a report on Friday, September 19th. Raymond James Financial lowered their price objective on shares of Russel Metals from C$56.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Scotiabank raised shares of Russel Metals to a “strong-buy” rating in a research report on Friday, October 10th. Finally, National Bankshares increased their price target on shares of Russel Metals from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$52.00.

Russel Metals Price Performance

The company has a market cap of C$2.35 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.59 and a beta of 1.04. The company has a current ratio of 3.37, a quick ratio of 1.44 and a debt-to-equity ratio of 20.28. The company has a fifty day moving average price of C$41.08 and a two-hundred day moving average price of C$42.02.

Russel Metals (TSE:RUS) last issued its earnings results on Wednesday, November 5th. The company reported C$0.63 EPS for the quarter. The firm had revenue of C$1.17 billion during the quarter. Russel Metals had a return on equity of 11.03% and a net margin of 4.27%.

Russel Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Thursday, November 27th. Russel Metals’s payout ratio is 58.22%.

Russel Metals Company Profile

Russel Metals Inc is a Canada-based metal distribution company. The company conducts business primarily through three metals distribution segments: metals service centers; energy products; and steel distributors. The metal service centers provide processing and distribution services to a broad base of end-users.