Brokerages Set Stelco Holdings Inc (TSE:STLC) PT at C$50.50

Shares of Stelco Holdings Inc (TSE:STLC) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$51.06.

STLC has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price on Stelco from C$52.00 to C$49.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Scotiabank raised their price objective on shares of Stelco from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. National Bankshares cut their target price on shares of Stelco from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 10th. UBS Group set a C$51.00 price target on Stelco and gave the stock a “neutral” rating in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. cut their price objective on Stelco from C$56.00 to C$50.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd.

Stelco Stock Performance

Stelco stock opened at C$39.73 on Tuesday. The company has a debt-to-equity ratio of 69.44, a quick ratio of 1.55 and a current ratio of 1.85. Stelco has a one year low of C$32.93 and a one year high of C$51.10. The stock’s 50 day moving average price is C$41.80 and its 200 day moving average price is C$42.54. The firm has a market capitalization of C$2.19 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.03 and a beta of 2.38.

Stelco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, March 7th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.03%. 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 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.