Stelco Holdings Inc (TSE:STLC) Receives C$56.44 Average PT from Brokerages

Stelco Holdings Inc (TSE:STLC) has been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$56.44.

STLC has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price target on shares of Stelco from C$43.00 to C$70.00 in a report on Tuesday, July 16th. Cormark lowered shares of Stelco from a “buy” rating to a “tender” rating and increased their target price for the company from C$58.50 to C$70.00 in a report on Tuesday, July 16th. JPMorgan Chase & Co. reduced their target price on shares of Stelco from C$50.00 to C$47.00 and set an “overweight” rating on the stock in a report on Tuesday, June 11th. BMO Capital Markets reduced their target price on shares of Stelco from C$58.00 to C$55.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. Finally, Stifel Nicolaus lowered shares of Stelco from a “buy” rating to a “hold” rating and increased their target price for the company from C$47.00 to C$70.00 in a report on Tuesday, July 16th.

Stelco Price Performance

Shares of TSE:STLC opened at C$64.12 on Monday. The company’s fifty day moving average price is C$59.21 and its 200-day moving average price is C$47.34. The firm has a market capitalization of C$3.49 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.03 and a beta of 2.70. Stelco has a one year low of C$32.93 and a one year high of C$67.00. The company has a debt-to-equity ratio of 60.97, a current ratio of 1.85 and a quick ratio of 1.55.

Stelco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 26th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $3.00 annualized dividend and a dividend yield of 4.68%. This is an increase from Stelco’s previous quarterly dividend of $0.50. Stelco’s dividend payout ratio (DPR) is 95.24%.

About Stelco

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.