Shares of Stelco Holdings Inc (TSE:STLC – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$49.94.
A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Stelco from C$50.00 to C$47.00 and set an “overweight” rating for the company in a report on Tuesday, June 11th. Scotiabank upped their target price 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. BMO Capital Markets decreased 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. Cormark decreased their price objective on Stelco from C$60.00 to C$58.50 in a report on Wednesday, May 1st. Finally, National Bankshares decreased their price objective on Stelco from C$54.00 to C$52.00 in a report on Friday, May 10th.
Check Out Our Latest Stock Analysis on STLC
Stelco Stock Down 0.3 %
Stelco Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 24th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Thursday, May 16th. Stelco’s payout ratio is 49.50%.
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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