Cormark Cuts Earnings Estimates for Algoma Steel Group

Algoma Steel Group Inc. (NASDAQ:ASTL) – Equities researchers at Cormark decreased their FY2025 earnings per share estimates for shares of Algoma Steel Group in a report released on Thursday, July 17th. Cormark analyst D. Ocampo now expects that the company will earn ($1.40) per share for the year, down from their previous forecast of ($1.21). The consensus estimate for Algoma Steel Group’s current full-year earnings is ($0.63) per share.

Several other equities research analysts have also recently issued reports on the company. Stifel Canada cut Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. BMO Capital Markets downgraded Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada upgraded Algoma Steel Group to a “hold” rating in a research report on Tuesday, April 22nd.

Algoma Steel Group Stock Up 1.7%

Shares of NASDAQ ASTL opened at $7.02 on Monday. Algoma Steel Group has a 52-week low of $4.17 and a 52-week high of $12.14. The company has a quick ratio of 1.47, a current ratio of 3.10 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $6.26 and its 200-day simple moving average is $6.54. The firm has a market cap of $736.61 million, a price-to-earnings ratio of -4.56 and a beta of 1.65.

Algoma Steel Group (NASDAQ:ASTL) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.36. The firm had revenue of $359.30 million for the quarter, compared to analysts’ expectations of $327.56 million. Algoma Steel Group had a negative net margin of 8.15% and a negative return on equity of 12.98%.

Algoma Steel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.85%. Algoma Steel Group’s payout ratio is presently -12.99%.

Institutional Trading of Algoma Steel Group

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new stake in shares of Algoma Steel Group in the fourth quarter valued at approximately $114,000. Two Sigma Investments LP boosted its stake in Algoma Steel Group by 41.8% during the fourth quarter. Two Sigma Investments LP now owns 36,600 shares of the company’s stock worth $358,000 after buying an additional 10,781 shares during the last quarter. Hartree Partners LP grew its holdings in Algoma Steel Group by 44.4% in the 4th quarter. Hartree Partners LP now owns 152,751 shares of the company’s stock valued at $1,494,000 after buying an additional 46,984 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Algoma Steel Group by 11.2% in the 4th quarter. Renaissance Technologies LLC now owns 89,374 shares of the company’s stock worth $874,000 after acquiring an additional 8,974 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Algoma Steel Group by 276.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company’s stock worth $12,884,000 after acquiring an additional 966,976 shares during the period. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Company Profile

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.