Stelco (TSE:STLC – Free Report) had its price target cut by Stifel Nicolaus from C$52.00 to C$49.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.
STLC has been the topic of several other reports. 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. National Bankshares cut their target price on shares of Stelco from C$55.00 to C$54.00 and set an outperform rating for the company in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut their target price on shares of Stelco from C$56.00 to C$50.00 and set an overweight rating for the company in a research note on Friday, February 23rd. Finally, Scotiabank boosted their target price on shares of Stelco from C$46.00 to C$51.00 and gave the company a sector perform rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$50.50.
Stelco Price Performance
Stelco Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.89%. This is an increase from Stelco’s previous quarterly dividend of $0.42. Stelco’s dividend payout ratio 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.
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