Algoma Central (TSE:ALC) PT Raised to C$19.50

Algoma Central (TSE:ALC) had its price target boosted by Cormark from C$18.50 to C$19.50 in a research note released on Thursday, BayStreet.CA reports.

Algoma Central Stock Performance

Shares of TSE:ALC opened at C$14.73 on Thursday. The business’s 50 day moving average price is C$14.82 and its 200-day moving average price is C$14.85. Algoma Central has a 1 year low of C$14.14 and a 1 year high of C$15.75. The company has a debt-to-equity ratio of 48.49, a current ratio of 1.10 and a quick ratio of 2.06. The firm has a market capitalization of C$582.13 million, a PE ratio of 7.12 and a beta of 0.72.

Algoma Central (TSE:ALC) last released its earnings results on Monday, February 26th. The company reported C$0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.57 by C$0.23. The business had revenue of C$201.32 million during the quarter, compared to analyst estimates of C$186.60 million. Algoma Central had a net margin of 11.86% and a return on equity of 11.02%. As a group, equities research analysts expect that Algoma Central will post 1.7768396 earnings per share for the current fiscal year.

Algoma Central Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Thursday, May 16th. Algoma Central’s dividend payout ratio (DPR) is 36.71%.

About Algoma Central

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.