Brokerages Set Stelco Holdings Inc (TSE:STLC) Target Price at C$58.25

Shares of Stelco Holdings Inc (TSE:STLC) have received an average recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is C$58.25.

Several brokerages have weighed in on STLC. Cormark lowered Stelco from a “buy” rating to a “tender” rating and upped their target price for the stock from C$58.50 to C$70.00 in a research report on Tuesday, July 16th. BMO Capital Markets dropped their target price on Stelco from C$58.00 to C$55.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Stifel Nicolaus lowered Stelco from a “buy” rating to a “hold” rating and upped their target price for the stock from C$47.00 to C$70.00 in a research report on Tuesday, July 16th. JPMorgan Chase & Co. dropped their target price on Stelco from C$50.00 to C$47.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada increased their price objective on Stelco from C$43.00 to C$70.00 in a report on Tuesday, July 16th.

Stelco Stock Up 0.3 %

TSE:STLC opened at C$66.78 on Friday. The firm has a market capitalization of C$3.64 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 0.03 and a beta of 2.70. Stelco has a 1-year low of C$32.93 and a 1-year high of C$67.29. The company has a current ratio of 1.85, a quick ratio of 1.55 and a debt-to-equity ratio of 60.97. The business’s fifty day moving average price is C$65.69 and its 200 day moving average price is C$50.49.

Stelco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 26th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend was Monday, August 19th. This is a boost from Stelco’s previous quarterly dividend of $0.50. Stelco’s dividend payout ratio (DPR) is presently 95.54%.

Stelco Company Profile

Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.