Cormark Weighs in on Algoma Central Co.’s FY2023 Earnings (TSE:ALC)

Algoma Central Co. (TSE:ALC) – Equities researchers at Cormark cut their FY2023 EPS estimates for Algoma Central in a research report issued on Monday, November 6th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $1.78 for the year, down from their previous forecast of $2.13. The consensus estimate for Algoma Central’s current full-year earnings is $2.27 per share. Cormark also issued estimates for Algoma Central’s Q4 2023 earnings at $0.57 EPS, Q1 2024 earnings at ($0.53) EPS, Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.70 EPS and FY2024 earnings at $1.91 EPS.

Algoma Central Stock Up 0.1 %

Shares of TSE ALC opened at C$14.61 on Wednesday. The company has a debt-to-equity ratio of 56.26, a current ratio of 1.07 and a quick ratio of 2.06. The company has a market cap of C$561.46 million, a P/E ratio of 5.73 and a beta of 0.73. Algoma Central has a 1 year low of C$14.14 and a 1 year high of C$18.90. The firm has a 50-day simple moving average of C$14.77 and a two-hundred day simple moving average of C$15.06.

Algoma Central Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, December 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, November 16th. Algoma Central’s dividend payout ratio is presently 28.24%.

Algoma Central Company Profile

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates in five segments: Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segment. The Domestic Dry-Bulk segment operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, salt, and agricultural product distributors.