Shares of Stelco Holdings Inc (TSE:STLC – Get Free Report) have received an average rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$56.44.
Several brokerages have recently commented on STLC. Cormark cut shares of Stelco from a “buy” rating to a “tender” rating and lifted their price target for the stock from C$58.50 to C$70.00 in a research report on Tuesday, July 16th. BMO Capital Markets dropped their price objective on Stelco from C$58.00 to C$55.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Royal Bank of Canada lifted their price target on shares of Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. National Bankshares reduced their target price on Stelco from C$54.00 to C$52.00 in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. decreased their target price on Stelco from C$50.00 to C$47.00 and set an “overweight” rating for the company in a research note on Tuesday, June 11th.
Read Our Latest Research Report on STLC
Stelco Price Performance
Stelco Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 26th were given a dividend of $0.75 per share. This is a boost from Stelco’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, August 19th. Stelco’s dividend payout ratio is currently 95.24%.
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.
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