Stelco (TSE:STLC) Hits New 52-Week High – Time to Buy?

Shares of Stelco Holdings Inc (TSE:STLC) hit a new 52-week high during trading on Wednesday . The company traded as high as C$67.93 and last traded at C$67.73, with a volume of 118778 shares traded. The stock had previously closed at C$67.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on STLC shares. Royal Bank of Canada raised their target price on shares of Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. Cormark downgraded shares of Stelco from a “buy” rating to a “tender” rating and boosted their target price for the stock from C$58.50 to C$70.00 in a report on Tuesday, July 16th. Finally, Stifel Nicolaus cut shares of 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, July 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Stelco presently has a consensus rating of “Hold” and a consensus price target of C$58.25.

Stelco Stock Performance

The stock has a 50 day moving average of C$66.03 and a 200 day moving average of C$52.87. The company has a quick ratio of 1.55, a current ratio of 1.85 and a debt-to-equity ratio of 60.97. The firm has a market cap of C$3.68 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 0.03 and a beta of 2.69.

Stelco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 26th were given a dividend of $0.75 per share. This is a positive change from Stelco’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 19th. This represents a $3.00 annualized dividend and a dividend yield of 4.44%. Stelco’s dividend payout ratio (DPR) is currently 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.