Stelco Holdings Inc (TSE:STLC) Receives Average Recommendation of “Hold” from Brokerages

Stelco Holdings Inc (TSE:STLC) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$58.25.

Several analysts have issued reports on the company. BMO Capital Markets cut their target price 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. Royal Bank of Canada lifted their price target on shares of Stelco from C$43.00 to C$70.00 in a report on Tuesday, July 16th. Cormark downgraded Stelco from a “buy” rating to a “tender” rating and upped their target price for the stock from C$58.50 to C$70.00 in a report on Tuesday, July 16th. Stifel Nicolaus downgraded shares of Stelco from a “buy” rating to a “hold” rating and upped their target price for the stock from C$47.00 to C$70.00 in a research report on Tuesday, July 16th. 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 research report on Tuesday, June 11th.

Stelco Stock Performance

TSE STLC opened at C$66.61 on Friday. The company has a fifty day moving average of C$65.68 and a 200-day moving average of C$50.13. Stelco has a 52-week low of C$32.93 and a 52-week high of C$67.29. The company has a debt-to-equity ratio of 60.97, a quick ratio of 1.55 and a current ratio of 1.85. The company has a market capitalization of C$3.63 billion, a P/E ratio of 21.21, a P/E/G ratio of 0.03 and a beta of 2.70.

Stelco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 26th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.50%. This is a boost from Stelco’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 19th. Stelco’s 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.