National Bankshares Trims Stelco (TSE:STLC) Target Price to C$54.00

Stelco (TSE:STLC) had its price objective trimmed by National Bankshares from C$55.00 to C$54.00 in a research note released on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

STLC has been the topic of several other reports. Royal Bank of Canada upped their target price on Stelco from C$41.00 to C$46.00 in a research report on Tuesday, December 19th. Stifel Nicolaus upped their target price on Stelco from C$50.00 to C$52.00 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. cut their target price on Stelco from C$56.00 to C$50.00 and set an overweight rating on the stock in a research report on Friday, February 23rd. BMO Capital Markets upped their target price on Stelco from C$55.00 to C$58.00 in a research report on Wednesday, December 13th. Finally, UBS Group set a C$51.00 target price on Stelco and gave the company a neutral rating in a research report on Tuesday, January 16th. Four equities 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.com, the stock currently has an average rating of Moderate Buy and an average price target of C$50.83.

Stelco Stock Performance

Shares of STLC stock opened at C$42.75 on Wednesday. The business’s fifty day simple moving average is C$41.44 and its 200-day simple moving average is C$42.05. The company has a market cap of C$2.36 billion, a PE ratio of 15.83, a PEG ratio of 0.03 and a beta of 2.35. The company has a current ratio of 1.85, a quick ratio of 1.55 and a debt-to-equity ratio of 69.44. Stelco has a 12-month low of C$32.93 and a 12-month high of C$51.24.

Stelco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, March 7th were paid a $0.50 dividend. The ex-dividend date was Thursday, February 29th. This is a positive change from Stelco’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. 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.