Cormark Forecasts Algoma Central’s FY2024 Earnings (TSE:ALC)

Algoma Central Co. (TSE:ALC) – Equities research analysts at Cormark boosted their FY2024 earnings estimates for Algoma Central in a note issued to investors on Tuesday, November 5th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $1.81 per share for the year, up from their prior forecast 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

Shares of ALC stock opened at C$15.10 on Thursday. The company has a market cap of C$612.61 million, a P/E ratio of 9.10 and a beta of 0.72. The firm has a fifty day moving average price of C$14.77 and a 200 day moving average price of C$14.52. The company has a current ratio of 0.65, a quick ratio of 2.06 and a debt-to-equity ratio of 56.47. Algoma Central has a 12 month low of C$14.03 and a 12 month high of C$15.60.

Algoma Central Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.03%. 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.