JPMorgan Chase & Co. Trims Stelco (TSE:STLC) Target Price to C$47.00

Stelco (TSE:STLCFree Report) had its price target decreased by JPMorgan Chase & Co. from C$50.00 to C$47.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts have also commented on STLC. BMO Capital Markets cut their price target on Stelco from C$58.00 to C$55.00 and set an outperform rating on the stock in a research note on Monday. Stifel Nicolaus reduced their target price on shares of Stelco from C$49.00 to C$47.00 in a report on Friday, May 10th. National Bankshares dropped their price target on shares of Stelco from C$54.00 to C$52.00 in a research note on Friday, May 10th. Cormark decreased their price objective on Stelco from C$60.00 to C$58.50 in a report on Wednesday, May 1st. Finally, Scotiabank raised their target price on Stelco from C$46.00 to C$51.00 and gave the stock a sector perform rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$49.94.

Get Our Latest Analysis on STLC

Stelco Trading Down 1.8 %

STLC opened at C$37.37 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 58.19. Stelco has a twelve month low of C$32.93 and a twelve month high of C$51.10. The stock has a market capitalization of C$2.05 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.03 and a beta of 2.40. The company has a 50-day simple moving average of C$41.36 and a 200 day simple moving average of C$42.93.

Stelco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders 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 dividend yield of 5.35%. Stelco’s dividend payout ratio is currently 49.50%.

About Stelco

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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.

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