Stelco (TSE:STLC) PT Lowered to C$54.00

Stelco (TSE:STLC - Free Report) had its target price decreased by National Bankshares from C$55.00 to C$54.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

STLC has been the subject of several other research reports. Scotiabank lifted 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 research note on Friday, February 23rd. UBS Group set a C$51.00 target price on shares of Stelco and gave the stock a neutral rating in a research report on Tuesday, January 16th. BMO Capital Markets boosted their target price on shares of Stelco from C$55.00 to C$58.00 in a report on Wednesday, December 13th. Royal Bank of Canada boosted their target price on shares of Stelco from C$41.00 to C$46.00 in a report on Tuesday, December 19th. Finally, Stifel Nicolaus boosted their target price on shares of Stelco from C$50.00 to C$52.00 in a report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of C$50.83.

Stelco Trading Down 1.7 %

TSE:STLC traded down C$0.74 during mid-day trading on Wednesday, hitting C$43.95. 149,085 shares of the company's stock were exchanged, compared to its average volume of 167,198. The company has a 50 day simple moving average of C$41.36 and a 200-day simple moving average of C$41.94. 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 fifty-two week low of C$32.93 and a fifty-two week high of C$51.24. The firm has a market capitalization of C$2.42 billion, a P/E ratio of 16.36, a PEG ratio of 0.03 and a beta of 2.35.

Stelco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.00 dividend on an annualized basis and a yield of 4.55%. This is a positive change from Stelco's previous quarterly dividend of $0.42. Stelco's 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.