Stelco (TSE:STLC – Free Report) had its price target cut by Stifel Nicolaus from C$49.00 to C$47.00 in a report released on Tuesday, BayStreet.CA reports. They currently have a hold rating on the stock.
Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Stelco from a neutral rating to an overweight rating and lifted their target price for the stock from C$45.00 to C$52.00 in a research note on Tuesday, December 12th. Royal Bank of Canada increased their price objective on shares of Stelco from C$41.00 to C$46.00 in a report on Tuesday, December 19th. Scotiabank boosted their target price on Stelco from C$42.50 to C$46.00 and gave the stock a sector perform rating in a report on Monday, November 13th. BMO Capital Markets increased their price target on Stelco from C$55.00 to C$58.00 in a report on Wednesday, December 13th. Finally, UBS Group set a C$51.00 price objective on Stelco and gave the stock a neutral rating in a research note on Tuesday, January 16th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Stelco currently has an average rating of Hold and a consensus price target of C$49.05.
Stelco Stock Performance
Stelco Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 28th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.23%. The ex-dividend date was Tuesday, November 21st. Stelco’s dividend payout ratio (DPR) is presently 40.29%.
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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