Q1 2024 Earnings Forecast for Stelco Holdings Inc. (TSE:STL) Issued By Cormark

Stelco Holdings Inc. (TSE:STL) – Analysts at Cormark dropped their Q1 2024 EPS estimates for Stelco in a research report issued to clients and investors on Wednesday, May 1st. Cormark analyst D. Ocampo now forecasts that the company will post earnings per share of $1.35 for the quarter, down from their prior estimate of $2.02. Cormark also issued estimates for Stelco’s Q2 2024 earnings at $1.04 EPS, Q3 2024 earnings at $0.92 EPS and FY2024 earnings at $4.28 EPS.

A number of other analysts also recently weighed in on the stock. National Bank Financial upgraded shares of Stelco from a “sector perform overweight” rating to an “outperform market weight” rating in a research report on Thursday, February 22nd. Stifel Canada raised shares of Stelco from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd.

Stelco Price Performance

Stelco has a one year low of C$21.00 and a one year high of C$26.50.

Stelco (TSE:STL) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C$0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.16) by C$0.32. The company had revenue of C$613.00 million during the quarter, compared to the consensus estimate of C$624.61 million.

Stelco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of ?. This is a boost from Stelco’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, February 29th.