Stelco (TSE:STLC) Reaches New 52-Week High at $67.08

Stelco Holdings Inc (TSE:STLC) hit a new 52-week high during trading on Monday . The stock traded as high as C$67.08 and last traded at C$66.72, with a volume of 15438 shares traded. The stock had previously closed at C$66.75.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on STLC shares. Stifel Nicolaus cut Stelco from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$47.00 to C$70.00 in a research report on Tuesday, July 16th. Cormark lowered Stelco from a “buy” rating to a “tender” rating and boosted their price target for the company from C$58.50 to C$70.00 in a report on Tuesday, July 16th. BMO Capital Markets cut their price objective on Stelco from C$58.00 to C$55.00 and set an “outperform” rating for the company in a research note on Monday, June 10th. JPMorgan Chase & Co. decreased their target price on shares of Stelco from C$50.00 to C$47.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada upped their price target on shares of Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$58.25.

Stelco Trading Down 0.0 %

The company has a quick ratio of 1.55, a current ratio of 1.85 and a debt-to-equity ratio of 60.97. The firm has a market capitalization of C$3.63 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 0.03 and a beta of 2.70. The company’s 50-day simple moving average is C$65.66 and its 200 day simple moving average is C$49.95.

Stelco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 26th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.50%. This is a positive change from Stelco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 19th. Stelco’s dividend payout ratio is presently 95.54%.

Stelco Company Profile

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.