Stelco (TSE:STLC) Price Target Cut to C$43.00 by Analysts at Royal Bank of Canada

Stelco (TSE:STLC) had its price objective decreased by Royal Bank of Canada from C$47.00 to C$43.00 in a research report released on Tuesday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other analysts have also weighed in on the stock. 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. Cormark dropped their price target on shares of Stelco from C$60.00 to C$58.50 in a report on Wednesday, May 1st. Stifel Nicolaus dropped their price target on shares of Stelco from C$49.00 to C$47.00 in a report on Friday, May 10th. JPMorgan Chase & Co. dropped 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 report on Tuesday, June 11th. Finally, BMO Capital Markets dropped their price target on shares of Stelco from C$58.00 to C$55.00 and set an outperform rating on the stock in a report on Monday, June 10th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of C$49.61.

Stelco Stock Down 2.9 %

TSE:STLC opened at C$36.09 on Tuesday. The firm has a market cap of C$1.98 billion, a P/E ratio of 8.93, a P/E/G ratio of 0.03 and a beta of 2.40. The company has a debt-to-equity ratio of 58.19, a quick ratio of 1.55 and a current ratio of 2.07. Stelco has a fifty-two week low of C$32.93 and a fifty-two week high of C$51.10. The firm has a 50-day simple moving average of C$39.88 and a two-hundred day simple moving average of C$42.19.

Stelco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Thursday, May 16th. Stelco’s payout ratio is 49.50%.

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.