Cormark Trims Stelco (TSE:STLC) Target Price to C$58.50

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

STLC has been the topic of several other reports. Scotiabank upped their price objective on shares of Stelco from C$46.00 to C$51.00 and gave the company a sector perform rating in a report on Friday, February 23rd. UBS Group set a C$51.00 price objective on shares of Stelco and gave the company a neutral rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. decreased their price objective on shares of Stelco from C$56.00 to C$50.00 and set an overweight rating on the stock in a report on Friday, February 23rd. National Bankshares decreased their price objective on shares of Stelco from C$55.00 to C$54.00 and set an outperform rating on the stock in a report on Wednesday, April 10th. Finally, Stifel Nicolaus decreased their price target on shares of Stelco from C$52.00 to C$49.00 and set a buy rating on the stock in a research note on Friday, April 19th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of C$51.06.

Stelco Stock Performance

TSE STLC opened at C$39.12 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.55 and a debt-to-equity ratio of 69.44. The firm’s fifty day moving average price is C$41.87 and its two-hundred day moving average price is C$42.47. Stelco has a 1 year low of C$32.93 and a 1 year high of C$51.10. The firm has a market capitalization of C$2.16 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 0.03 and a beta of 2.38.

Stelco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 7th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.11%. This is a boost from Stelco’s previous quarterly dividend of $0.42. Stelco’s dividend payout ratio is 74.07%.

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.