Algoma Central (TSE:ALC) Price Target Raised to C$19.00

Algoma Central (TSE:ALC) had its price objective lifted by Cormark from C$17.00 to C$19.00 in a research note released on Monday morning, BayStreet.CA reports.

Shares of ALC stock opened at C$12.60 on Monday. The business’s fifty day simple moving average is C$13.00 and its 200-day simple moving average is C$13.20. The company has a market cap of $488.12 million and a PE ratio of 13.00. The company has a current ratio of 1.41, a quick ratio of 1.21 and a debt-to-equity ratio of 40.78. Algoma Central has a 12-month low of C$11.61 and a 12-month high of C$14.23.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Monday, August 19th. Algoma Central’s dividend payout ratio (DPR) is presently 41.28%.

About Algoma Central

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers on the Great Lakes – St. Lawrence Waterway in Canada. It operates in six segments: Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, Investment Properties, and Corporate. The company operates 12 self-unloading bulk carriers and 8 gearless bulk carriers; and owns and manages seven double-hull product tankers for the transportation of liquid petroleum products throughout the Great Lakes, the St.

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