Stelco (TSE:STLC) Given New C$70.00 Price Target at Royal Bank of Canada

Stelco (TSE:STLC) had its price target increased by Royal Bank of Canada from C$43.00 to C$70.00 in a report issued on Tuesday morning, BayStreet.CA reports.

STLC has been the subject of several other research reports. Stifel Nicolaus cut Stelco from a buy rating to a hold rating and increased their price target for the company from C$47.00 to C$70.00 in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Stelco from C$50.00 to C$47.00 and set an overweight rating for the company in a research note on Tuesday, June 11th. National Bankshares cut their target price on Stelco from C$54.00 to C$52.00 in a research report on Friday, May 10th. Cormark cut their target price on Stelco from C$60.00 to C$58.50 in a research report on Wednesday, May 1st. Finally, BMO Capital Markets cut their target price on Stelco from C$58.00 to C$55.00 and set an outperform rating on the stock in a research report on Monday, June 10th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of C$56.44.

Stelco Trading Down 0.2 %

Shares of STLC stock opened at C$65.85 on Tuesday. The stock has a market cap of C$3.62 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.03 and a beta of 2.40. The stock has a 50-day moving average of C$41.82 and a 200-day moving average of C$42.11. 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$66.80.

Stelco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 24th were issued a $0.50 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.00 annualized dividend and a yield of 3.04%. Stelco’s payout ratio is currently 49.50%.

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.