Stelco (TSE:STLC – Free Report) had its price target lowered by Cormark from C$60.00 to C$58.50 in a research report sent to investors on Wednesday, BayStreet.CA reports.
STLC has been the subject of several other reports. Scotiabank lifted their target price on shares of Stelco from C$46.00 to C$51.00 and gave the company a sector perform rating in a report on Friday, February 23rd. National Bankshares decreased their price objective on shares of Stelco from C$55.00 to C$54.00 and set an outperform rating for the company in a report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of Stelco from C$56.00 to C$50.00 and set an overweight rating for the company in a report on Friday, February 23rd. Stifel Nicolaus decreased their price objective on shares of Stelco from C$52.00 to C$49.00 and set a buy rating for the company in a report on Friday, April 19th. Finally, UBS Group set a C$51.00 price objective on shares of Stelco and gave the stock a neutral rating in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stelco presently has an average rating of Moderate Buy and an average target price of C$51.06.
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Stelco Stock Performance
Stelco Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, March 7th were paid a $0.50 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.00 annualized dividend and a yield of 5.11%. This is a boost from Stelco’s previous quarterly dividend of $0.42. Stelco’s payout ratio is presently 74.07%.
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.
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