Algoma Steel Group Inc. (NASDAQ:ASTL – Free Report) – Equities research analysts at Cormark lifted their FY2025 earnings estimates for Algoma Steel Group in a research note issued on Monday, November 6th. Cormark analyst D. Ocampo now expects that the company will earn $0.84 per share for the year, up from their previous estimate of $0.31. The consensus estimate for Algoma Steel Group’s current full-year earnings is $1.07 per share.
Separately, Stifel Canada reaffirmed a “buy” rating on shares of Algoma Steel Group in a research note on Sunday, September 17th.
Algoma Steel Group Price Performance
Shares of NASDAQ:ASTL opened at $7.22 on Wednesday. The business has a fifty day simple moving average of $6.92 and a 200-day simple moving average of $7.16. Algoma Steel Group has a 52 week low of $5.64 and a 52 week high of $9.20. The company has a market cap of $747.99 million, a P/E ratio of 24.07 and a beta of 1.45. The company has a quick ratio of 1.70, a current ratio of 3.23 and a debt-to-equity ratio of 0.08.
Algoma Steel Group (NASDAQ:ASTL – Get Free Report) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.12). The business had revenue of $615.87 million during the quarter, compared to analyst estimates of $596.30 million. Algoma Steel Group had a net margin of 2.60% and a return on equity of 4.77%. During the same quarter last year, the firm posted $1.17 earnings per share.
Algoma Steel Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.086 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 4.76%. This is an increase from Algoma Steel Group’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, November 29th. Algoma Steel Group’s dividend payout ratio is presently 66.67%.
Institutional Investors Weigh In On Algoma Steel Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC purchased a new stake in Algoma Steel Group during the third quarter worth approximately $73,000. Gamco Investors INC. ET AL increased its holdings in Algoma Steel Group by 3.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 64,325 shares of the company’s stock valued at $437,000 after purchasing an additional 2,000 shares in the last quarter. Jump Financial LLC purchased a new position in Algoma Steel Group in the third quarter valued at about $455,000. Meixler Investment Management Ltd. acquired a new position in shares of Algoma Steel Group during the third quarter worth about $83,000. Finally, CIBC Asset Management Inc grew its stake in shares of Algoma Steel Group by 2.3% in the third quarter. CIBC Asset Management Inc now owns 87,585 shares of the company’s stock valued at $596,000 after buying an additional 1,939 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.
About Algoma Steel Group
Algoma Steel Group Inc produces and sells steel products primarily in North America. The company 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.
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