Stelco (TSE:STLC) Given New C$58.50 Price Target at Cormark

Stelco (TSE:STLC) had its target price trimmed by Cormark from C$60.00 to C$58.50 in a research report report published on Wednesday morning, BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus lowered their price objective on shares of Stelco from C$52.00 to C$49.00 and set a buy rating for the company in a research report on Friday, April 19th. UBS Group set a C$51.00 price objective on shares of Stelco and gave the stock a neutral rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. lowered their price objective on shares of Stelco from C$56.00 to C$50.00 and set an overweight rating for the company in a research report on Friday, February 23rd. Scotiabank increased their price objective on shares of Stelco from C$46.00 to C$51.00 and gave the stock a sector perform rating in a research report on Friday, February 23rd. Finally, National Bankshares lowered their price objective on shares of Stelco from C$55.00 to C$54.00 and set an outperform rating for the company in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of C$51.06.

Stelco Stock Up 1.1 %

Shares of TSE:STLC opened at C$39.73 on Wednesday. The company has a 50 day moving average price of C$41.80 and a two-hundred day moving average price of C$42.54. The company has a debt-to-equity ratio of 69.44, a quick ratio of 1.55 and a current ratio of 1.85. Stelco has a 52 week low of C$32.93 and a 52 week high of C$51.10. The company has a market capitalization of C$2.19 billion, a PE ratio of 14.71, a PEG ratio of 0.03 and a beta of 2.38.

Stelco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, March 7th were paid a $0.50 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.00 dividend on an annualized basis and a yield of 5.03%. This is a boost from Stelco’s previous quarterly dividend of $0.42. Stelco’s dividend payout ratio (DPR) is currently 74.07%.

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.