Stelco (TSE:STLC) Hits New 1-Year High at $67.08

Stelco Holdings Inc (TSE:STLC)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$67.08 and last traded at C$66.72, with a volume of 15438 shares changing hands. The stock had previously closed at C$66.75.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STLC. JPMorgan Chase & Co. lowered their price target on shares of Stelco from C$50.00 to C$47.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 11th. Stifel Nicolaus downgraded Stelco from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$47.00 to C$70.00 in a report on Tuesday, July 16th. BMO Capital Markets decreased their price target 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 upped their target price on Stelco from C$43.00 to C$70.00 in a report on Tuesday, July 16th. Finally, Cormark lowered shares of Stelco from a “buy” rating to a “tender” rating and upped their price objective for the company from C$58.50 to C$70.00 in a research note on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$58.25.

Stelco Stock Performance

The business’s fifty day moving average price is C$65.66 and its 200-day moving average price is C$49.95. The company has a debt-to-equity ratio of 60.97, a current ratio of 1.85 and a quick ratio of 1.55. The stock has a market capitalization of C$3.63 billion, a PE ratio of 21.27, 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. Investors of record on Monday, August 26th were given a $0.75 dividend. 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 of this dividend was Monday, August 19th. Stelco’s dividend payout ratio is 95.54%.

About Stelco

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.