Stelco (TSE:STLC) Hits New 52-Week High - What's Next?

Shares of Stelco Holdings Inc (TSE:STLC - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$67.50 and last traded at C$67.26, with a volume of 19735 shares traded. The stock had previously closed at C$67.24.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STLC shares. JPMorgan Chase & Co. cut their target price 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. BMO Capital Markets dropped their price objective 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. Cormark cut Stelco from a "buy" rating to a "tender" rating and lifted their price objective for the company from C$58.50 to C$70.00 in a research note on Tuesday, July 16th. Stifel Nicolaus cut Stelco from a "buy" rating to a "hold" rating and lifted their price objective for the company from C$47.00 to C$70.00 in a research note on Tuesday, July 16th. Finally, Royal Bank of Canada lifted their price objective on Stelco from C$43.00 to C$70.00 in a research note on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$58.25.

Stelco Price Performance

The company has a current ratio of 1.85, a quick ratio of 1.55 and a debt-to-equity ratio of 60.97. The firm has a market capitalization of C$3.66 billion, a PE ratio of 21.41, a P/E/G ratio of 0.03 and a beta of 2.70. The company has a fifty day moving average price of C$65.74 and a two-hundred day moving average price of C$51.04.

Stelco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 26th were issued a $0.75 dividend. This is an increase from Stelco's previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Monday, August 19th. Stelco's payout ratio is presently 95.54%.

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.

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