Stelco (TSE:STLC) PT Lowered to C$43.00 at Royal Bank of Canada

Stelco (TSE:STLC) had its target price trimmed by Royal Bank of Canada from C$47.00 to C$43.00 in a research note published on Tuesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

STLC has been the subject of several other research reports. National Bankshares lowered their target price on shares of Stelco from C$54.00 to C$52.00 in a report on Friday, May 10th. Stifel Nicolaus lowered their target price on shares of Stelco from C$49.00 to C$47.00 in a report on Friday, May 10th. BMO Capital Markets reduced their price target on shares of Stelco from C$58.00 to C$55.00 and set an outperform rating for the company in a research report on Monday, June 10th. JPMorgan Chase & Co. reduced their price target on shares of 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. Finally, Cormark reduced their price target on shares of Stelco from C$60.00 to C$58.50 in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of C$49.61.

Stelco Stock Performance

STLC opened at C$36.09 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 58.19. The company’s fifty day moving average price is C$39.72 and its two-hundred day moving average price is C$42.11. Stelco has a 1-year low of C$32.93 and a 1-year high of C$51.10. The company has a market cap of C$1.98 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.03 and a beta of 2.40.

Stelco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders 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.