FY2024 EPS Estimates for Algoma Central Increased by Cormark

Algoma Central Co. (TSE:ALC) – Investment analysts at Cormark boosted their FY2024 earnings per share (EPS) estimates for Algoma Central in a research report issued to clients and investors on Tuesday, November 5th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $1.81 for the year, up from their prior estimate of $1.77. The consensus estimate for Algoma Central’s current full-year earnings is $1.90 per share. Cormark also issued estimates for Algoma Central’s Q4 2024 earnings at $0.78 EPS, Q1 2025 earnings at ($0.60) EPS, Q3 2025 earnings at $0.96 EPS, Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $1.95 EPS.

Algoma Central Stock Performance

Algoma Central stock opened at C$15.11 on Thursday. The company has a debt-to-equity ratio of 56.47, a current ratio of 0.65 and a quick ratio of 2.06. Algoma Central has a 12 month low of C$14.03 and a 12 month high of C$15.60. The company has a market cap of C$613.01 million, a price-to-earnings ratio of 9.10 and a beta of 0.72. The stock’s 50-day moving average is C$14.75 and its 200-day moving average is C$14.52.

Algoma Central Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Monday, November 18th. Algoma Central’s payout ratio is currently 45.78%.

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.