Stelco (TSE:STLC) Price Target Lowered to C$49.00 at Stifel Nicolaus

Stelco (TSE:STLC) had its price target reduced by Stifel Nicolaus from C$52.00 to C$49.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

STLC has been the subject of several other research reports. JPMorgan Chase & Co. dropped 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 report on Friday, February 23rd. National Bankshares lowered their price target on 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. Scotiabank boosted 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. 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$50.50.

Stelco Stock Performance

Stelco stock opened at C$41.04 on Friday. Stelco has a 1 year low of C$32.93 and a 1 year high of C$51.10. The company’s 50-day moving average is C$41.69 and its two-hundred day moving average is C$42.27. 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 company has a market cap of C$2.26 billion, a PE ratio of 15.20, a PEG ratio of 0.03 and a beta of 2.35.

Stelco Increases Dividend

The firm 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.87%. This is an increase from Stelco’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, February 29th. 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.