Shares of Stelco Holdings Inc (TSE:STLC – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$51.06.
A number of research analysts have recently issued reports on STLC shares. Scotiabank boosted their target price on Stelco from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. Cormark cut their price objective on shares of Stelco from C$60.00 to C$58.50 in a research report on Wednesday, May 1st. Stifel Nicolaus lowered their target price on shares of Stelco from C$52.00 to C$49.00 and set a “buy” rating on the stock in a report on Friday, April 19th. National Bankshares cut their price target on shares of Stelco from C$55.00 to C$54.00 and set an “outperform” rating for the company in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Stelco from C$56.00 to C$50.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd.
Check Out Our Latest Research Report on Stelco
Stelco Trading Down 0.9 %
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 issued a $0.50 dividend. This is a positive change from Stelco’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.00 annualized dividend and a yield of 5.08%. 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.
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