Algoma Central (TSE:ALC) Shares Pass Above 50 Day Moving Average – Should You Sell?

Posted by Mickey Rousseau on Oct 24th, 2024

Algoma Central Co. (TSE:ALC – Get Free Report) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$14.66 and traded as high as C$15.35. Algoma Central shares last traded at C$15.20, with a volume of 4,910 shares changing hands.

Algoma Central Stock Up 0.8 %

The company has a market capitalization of C$615.85 million, a P/E ratio of 9.13 and a beta of 0.72. The company has a current ratio of 0.65, a quick ratio of 2.06 and a debt-to-equity ratio of 56.47. The stock has a 50 day moving average price of C$14.67 and a 200 day moving average price of C$14.51.

Algoma Central (TSE:ALC – Get Free Report) last announced its earnings results on Friday, August 2nd. The company reported C$0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.81 by C($0.37). The company had revenue of C$180.97 million for the quarter, compared to the consensus estimate of C$215.80 million. Algoma Central had a return on equity of 9.14% and a net margin of 9.98%. On average, research analysts anticipate that Algoma Central Co. will post 1.898977 earnings per share for the current fiscal year.

Algoma Central Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend was Tuesday, August 20th. Algoma Central’s dividend payout ratio is currently 45.78%.

Algoma Central Company Profile

(Get Free Report)

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.