Algoma Steel Group (NASDAQ:ASTL) Price Target Increased to C$10.75 by Analysts at Stifel Nicolaus

Algoma Steel Group (NASDAQ:ASTLGet Rating) had its price target raised by Stifel Nicolaus from C$10.25 to C$10.75 in a report released on Monday, The Fly reports.

Separately, BMO Capital Markets reduced their price target on shares of Algoma Steel Group from C$16.00 to C$14.00 in a research report on Wednesday, September 28th.

Algoma Steel Group Price Performance

Shares of ASTL stock opened at $6.51 on Monday. The firm has a market cap of $676.10 million, a P/E ratio of 1.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.57 and a quick ratio of 1.79. Algoma Steel Group has a 1-year low of $6.21 and a 1-year high of $12.50. The firm has a fifty day moving average of $7.04 and a two-hundred day moving average of $8.44.

Algoma Steel Group (NASDAQ:ASTLGet Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05. The company had revenue of $459.36 million during the quarter, compared to analyst estimates of $462.92 million. Algoma Steel Group had a net margin of 21.31% and a return on equity of 56.35%. As a group, research analysts anticipate that Algoma Steel Group will post 1.46 earnings per share for the current fiscal year.

Algoma Steel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.07%. Algoma Steel Group’s payout ratio is currently 6.01%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. UBS Group AG bought a new position in shares of Algoma Steel Group in the 3rd quarter worth about $34,000. Ulland Investment Advisors LLC bought a new stake in Algoma Steel Group in the 2nd quarter valued at about $55,000. National Bank of Canada FI lifted its position in Algoma Steel Group by 198.6% in the 2nd quarter. National Bank of Canada FI now owns 8,958 shares of the company’s stock valued at $80,000 after purchasing an additional 5,958 shares during the last quarter. Shell Asset Management Co. bought a new stake in Algoma Steel Group in the 2nd quarter valued at about $86,000. Finally, Bluefin Capital Management LLC bought a new stake in Algoma Steel Group in the 2nd quarter valued at about $95,000. 60.70% of the stock is currently owned by institutional investors.

Algoma Steel Group Company Profile

(Get Rating)

Algoma Steel Group Inc produces and sells steel products primarily in North America. It provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.

Read More

The Fly logo

Receive News & Ratings for Algoma Steel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algoma Steel Group and related companies with's FREE daily email newsletter.