BMO Capital Markets Cuts Stelco (TSE:STLC) Price Target to C$55.00

Stelco (TSE:STLCFree Report) had its target price lowered by BMO Capital Markets from C$58.00 to C$55.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on STLC. Cormark lowered their target price on Stelco from C$60.00 to C$58.50 in a report on Wednesday, May 1st. Scotiabank increased their price objective on shares of Stelco from C$46.00 to C$51.00 and gave the stock a sector perform rating in a research note on Friday, February 23rd. National Bankshares reduced their price objective on shares of Stelco from C$54.00 to C$52.00 in a research note on Friday, May 10th. Stifel Nicolaus reduced their price objective on shares of Stelco from C$49.00 to C$47.00 in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. reduced 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 research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Stelco presently has a consensus rating of Moderate Buy and an average price target of C$49.94.

View Our Latest Stock Analysis on Stelco

Stelco Price Performance

STLC stock opened at C$38.06 on Monday. The stock has a 50-day moving average price of C$41.46 and a two-hundred day moving average price of C$42.97. The stock has a market cap of C$2.09 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.03 and a beta of 2.40. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 58.19. Stelco has a 1 year low of C$32.93 and a 1 year high of C$51.10.

Stelco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.00 annualized dividend and a yield of 5.25%. Stelco’s dividend payout ratio (DPR) is currently 49.50%.

About Stelco

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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.

Further Reading

Analyst Recommendations for Stelco (TSE:STLC)

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