Cormark Raises Algoma Central (TSE:ALC) Price Target to C$19.50

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

Algoma Central Stock Performance

TSE ALC opened at C$14.73 on Thursday. The firm has a market cap of C$582.13 million, a price-to-earnings ratio of 7.12 and a beta of 0.72. The company has a 50-day simple moving average of C$14.82 and a two-hundred day simple moving average of C$14.85. The company has a quick ratio of 2.06, a current ratio of 1.10 and a debt-to-equity ratio of 48.49. Algoma Central has a 12-month low of C$14.14 and a 12-month high of C$15.75.

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

Algoma Central Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.76 dividend on an annualized basis and a yield of 5.16%. Algoma Central’s dividend payout ratio is currently 36.71%.

Algoma Central Company Profile

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.