Algoma Central (TSE:ALC) Shares Cross Above 50-Day Moving Average – Here’s Why

Algoma Central Co. (TSE:ALC) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$22.00 and traded as high as C$22.39. Algoma Central shares last traded at C$22.00, with a volume of 2,774 shares.

Algoma Central Price Performance

The stock has a market capitalization of C$892.50 million, a price-to-earnings ratio of 5.30 and a beta of 0.96. The company has a quick ratio of 2.06, a current ratio of 0.48 and a debt-to-equity ratio of 61.22. The business’s 50 day simple moving average is C$22.00 and its 200-day simple moving average is C$20.97.

Algoma Central (TSE:ALC) last released its earnings results on Thursday, May 7th. The company reported C$0.05 EPS for the quarter. The firm had revenue of C$127.78 million for the quarter. Algoma Central had a net margin of 21.56% and a return on equity of 17.62%. On average, research analysts forecast that Algoma Central Co. will post 1.898977 earnings per share for the current year.

Algoma Central Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, June 1st were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.8%. Algoma Central’s dividend payout ratio (DPR) is currently 19.52%.

Algoma Central Company Profile

Algoma Central Corporation is a global provider of marine transportation, owning and operating dry and liquid bulk carriers that serve critical industries throughout the Great Lakes-St. Lawrence Region and internationally. Focused on delivering exceptional customer service, utilizing fuel efficient vessels, and advancing innovative technologies, Algoma drives productivity while contributing to economic growth, strengthening communities, and supporting its people. Algoma truly is Your Marine Carrier of Choice ¿.