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

Stelco (TSE:STLC - Free Report) had its price target lowered by Stifel Nicolaus from C$52.00 to C$49.00 in a report published on Friday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. National Bankshares decreased their price target on Stelco from C$55.00 to C$54.00 and set an outperform rating for the company in a report on Wednesday, April 10th. UBS Group set a C$51.00 price target on Stelco and gave the stock a neutral rating in a report on Tuesday, January 16th. Scotiabank increased their price target on Stelco from C$46.00 to C$51.00 and gave the stock a sector perform rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Stelco from C$56.00 to C$50.00 and set an overweight rating for the company in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of C$50.50.

Stelco Stock Performance

Shares of STLC traded down C$0.76 during mid-day trading on Friday, reaching C$40.94. 208,328 shares of the company's stock were exchanged, compared to its average volume of 167,731. The company has a debt-to-equity ratio of 69.44, a current ratio of 1.85 and a quick ratio of 1.55. The stock has a market capitalization of C$2.26 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.03 and a beta of 2.35. The business's fifty day simple moving average is C$41.69 and its 200-day simple moving average is C$42.19. Stelco has a 52-week low of C$32.93 and a 52-week high of C$51.10.

Stelco Increases Dividend

The business 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. The ex-dividend date was Thursday, February 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.89%. This is an increase from Stelco's previous quarterly dividend of $0.42. 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.