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

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

Algoma Central Trading Up 1.0 %

Shares of TSE ALC opened at C$14.73 on Thursday. The stock has a market cap of C$582.13 million, a P/E ratio of 7.12 and a beta of 0.72. The firm has a 50 day moving average price of C$14.82 and a two-hundred day moving average price of C$14.85. The company has a debt-to-equity ratio of 48.49, a quick ratio of 2.06 and a current ratio of 1.10. Algoma Central has a 52-week low of C$14.14 and a 52-week high of C$15.75.

Algoma Central (TSE:ALC) last posted its quarterly earnings data on Monday, February 26th. The company reported C$0.80 earnings per share for the quarter, beating 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 the consensus estimate of C$186.60 million. Algoma Central had a return on equity of 11.02% and a net margin of 11.86%. As a group, equities analysts forecast that Algoma Central will post 1.7768396 EPS for the current year.

Algoma Central Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.16%. The ex-dividend date is Thursday, May 16th. Algoma Central’s payout ratio is presently 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.