Stelco (TSE:STLC) Price Target Cut to C$49.00 by Analysts at BMO Capital Markets

Stelco (TSE:STLCGet Rating) had its price objective reduced by BMO Capital Markets from C$53.00 to C$49.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

STLC has been the subject of a number of other reports. National Bankshares boosted their target price on shares of Stelco from C$51.00 to C$55.00 in a research note on Wednesday, July 13th. Royal Bank of Canada dropped their target price on shares of Stelco from C$48.00 to C$47.00 and set a sector perform rating for the company in a research note on Friday, August 12th. Stifel Nicolaus boosted their price target on shares of Stelco from C$40.00 to C$41.00 in a research note on Tuesday. Scotiabank boosted their price target on shares of Stelco from C$43.00 to C$44.00 in a research note on Tuesday. Finally, Eight Capital dropped their price target on shares of Stelco from C$63.85 to C$53.70 and set a buy rating for the company in a research note on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$53.77.

Stelco Trading Down 6.7 %

Shares of STLC stock opened at C$33.85 on Wednesday. Stelco has a 12-month low of C$30.20 and a 12-month high of C$56.99. The company has a market capitalization of C$2.32 billion and a P/E ratio of 1.35. The firm has a 50-day moving average price of C$35.31 and a 200 day moving average price of C$40.72. The company has a quick ratio of 1.89, a current ratio of 2.49 and a debt-to-equity ratio of 32.02.

Stelco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, September 9th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.55%. The ex-dividend date was Friday, September 2nd. Stelco’s payout ratio is 4.39%.

Stelco Company Profile

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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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