Stelco (TSE:STLC – Free Report) had its price target decreased by Stifel Nicolaus from C$52.00 to C$49.00 in a research report released on Friday morning, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.
Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their target price 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. UBS Group set a C$51.00 target price on shares of Stelco and gave the stock a neutral rating in a report on Tuesday, January 16th. National Bankshares decreased their target price 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. Finally, Scotiabank raised their target price on shares of Stelco from C$46.00 to C$51.00 and gave the stock a sector perform rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Stelco presently has a consensus rating of Moderate Buy and an average target price of C$50.50.
Check Out Our Latest Research Report on Stelco
Stelco Stock Performance
Stelco Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, March 7th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Stelco’s previous quarterly dividend of $0.42. Stelco’s dividend payout ratio (DPR) 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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