Cormark Weighs in on Algoma Central Co.’s Q3 2024 Earnings (TSE:ALC)

Algoma Central Co. (TSE:ALC) – Research analysts at Cormark raised their Q3 2024 earnings per share estimates for Algoma Central in a research report issued on Tuesday, August 6th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $0.95 per share for the quarter, up from their previous estimate of $0.92. The consensus estimate for Algoma Central’s current full-year earnings is $2.16 per share.

Algoma Central Trading Down 0.4 %

ALC opened at C$14.22 on Wednesday. The company has a debt-to-equity ratio of 56.05, a current ratio of 0.58 and a quick ratio of 2.06. Algoma Central has a fifty-two week low of C$14.07 and a fifty-two week high of C$15.75. The company’s 50 day moving average price is C$14.26 and its two-hundred day moving average price is C$14.63. The firm has a market capitalization of C$561.97 million, a price-to-earnings ratio of 6.87 and a beta of 0.72.

Algoma Central Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, September 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.76 annualized dividend and a dividend yield of 5.34%. Algoma Central’s dividend payout ratio 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.