JPMorgan Chase & Co. Lowers Stelco (STLC) Price Target to C$29.00

Stelco (TSE:STLC) had its target price lowered by JPMorgan Chase & Co. from C$31.00 to C$29.00 in a research note published on Friday morning, BayStreet.CA reports.

Other analysts have also issued research reports about the company. BMO Capital Markets decreased their price objective on Stelco from C$26.00 to C$20.00 in a report on Friday. CSFB decreased their price objective on Stelco from C$26.00 to C$21.00 in a report on Tuesday, January 8th. Goldman Sachs Group lowered Stelco from a buy rating to a neutral rating and decreased their price objective for the company from C$27.00 to C$20.00 in a report on Monday, January 14th. Finally, National Bank Financial decreased their price objective on Stelco from C$21.00 to C$18.00 and set an outperform rating for the company in a report on Thursday.

Shares of STLC traded up C$0.76 during midday trading on Friday, hitting C$14.96. 307,800 shares of the company’s stock traded hands, compared to its average volume of 168,094. Stelco has a 1 year low of C$13.60 and a 1 year high of C$27.48. The company has a current ratio of 2.06, a quick ratio of 1.19 and a debt-to-equity ratio of 38.03. The firm has a market cap of $1.33 billion and a PE ratio of 5.25.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.40 annualized dividend and a dividend yield of 2.67%. Stelco’s dividend payout ratio is presently 14.04%.

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.

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