Stelco (TSE:STLC) Reaches New 52-Week High – Should You Buy?

Stelco Holdings Inc (TSE:STLC)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$67.93 and last traded at C$67.73, with a volume of 118778 shares. The stock had previously closed at C$67.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STLC. Stifel Nicolaus lowered shares of Stelco from a “buy” rating to a “hold” rating and raised their price objective for the company from C$47.00 to C$70.00 in a report on Tuesday, July 16th. 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. Finally, Cormark downgraded Stelco from a “buy” rating to a “tender” rating and lifted their target price for the stock from C$58.50 to C$70.00 in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$58.25.

Stelco Price Performance

The company has a market capitalization of C$3.68 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 0.03 and a beta of 2.69. The business has a 50 day moving average price of C$66.03 and a 200-day moving average price of C$52.87. The company has a debt-to-equity ratio of 60.97, a quick ratio of 1.55 and a current ratio of 1.85.

Stelco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 26th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.44%. This is a boost from Stelco’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 19th. Stelco’s dividend payout ratio (DPR) is presently 95.54%.

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.