Shares of Stelco Holdings Inc (TSE:STLC – Get Free Report) have been given an average rating of “Hold” by the eight research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$56.44.
A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lowered their price target 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 price objective on Stelco from C$58.00 to C$55.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Cormark lowered Stelco from a “buy” rating to a “tender” rating and increased their target price for the stock from C$58.50 to C$70.00 in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus downgraded Stelco from a “buy” rating to a “hold” rating and boosted their price target for the company from C$47.00 to C$70.00 in a research note on Tuesday, July 16th.
View Our Latest Stock Analysis on STLC
Stelco Stock Performance
Stelco Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 26th were given a $0.75 dividend. The ex-dividend date was Monday, August 19th. This represents a $3.00 dividend on an annualized basis and a yield of 4.58%. This is a positive change from Stelco’s previous quarterly dividend of $0.50. Stelco’s dividend payout ratio (DPR) is currently 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.
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