Shares of Stelco Holdings Inc (TSE:STLC – Get Free Report) have been assigned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$58.25.
Several brokerages have recently issued reports on STLC. Cormark lowered Stelco from a “buy” rating to a “tender” rating and raised their target price for the company from C$58.50 to C$70.00 in a research report on Tuesday, July 16th. Royal Bank of Canada lifted their price objective on shares of Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. Stifel Nicolaus downgraded shares of Stelco from a “buy” rating to a “hold” rating and increased their target price for the company from C$47.00 to C$70.00 in a research report on Tuesday, July 16th. BMO Capital Markets lowered their price target on shares of Stelco from C$58.00 to C$55.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. reduced their price objective 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.
Check Out Our Latest Report on STLC
Stelco Trading Up 0.0 %
Stelco Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 26th were paid a $0.75 dividend. The ex-dividend date was Monday, August 19th. This represents a $3.00 annualized dividend and a yield of 4.49%. This is a boost from Stelco’s previous quarterly dividend of $0.50. Stelco’s dividend payout ratio is 95.54%.
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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