FY2025 EPS Estimates for Algoma Steel Group Inc. (NASDAQ:ASTL) Cut by Cormark

Algoma Steel Group Inc. (NASDAQ:ASTL) – Analysts at Cormark reduced their FY2025 EPS estimates for Algoma Steel Group in a research note issued to investors on Monday, June 24th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of ($0.24) per share for the year, down from their prior forecast of $0.83. The consensus estimate for Algoma Steel Group’s current full-year earnings is ($0.25) per share. Cormark also issued estimates for Algoma Steel Group’s FY2026 earnings at $0.47 EPS.

Algoma Steel Group Stock Performance

ASTL opened at $6.96 on Thursday. The firm has a market capitalization of $724.68 million, a PE ratio of 22.45 and a beta of 1.51. Algoma Steel Group has a twelve month low of $6.34 and a twelve month high of $10.25. The firm’s 50-day moving average price is $7.60 and its 200 day moving average price is $8.23. The company has a current ratio of 2.88, a quick ratio of 0.98 and a debt-to-equity ratio of 0.09.

Algoma Steel Group (NASDAQ:ASTL) last posted its quarterly earnings results on Saturday, June 22nd. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $460.35 million for the quarter, compared to analyst estimates of $439.82 million. Algoma Steel Group had a net margin of 3.81% and a return on equity of 6.97%. During the same period in the previous year, the business posted ($0.14) earnings per share.

Hedge Funds Weigh In On Algoma Steel Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in Algoma Steel Group by 93.5% during the fourth quarter. Russell Investments Group Ltd. now owns 251,132 shares of the company’s stock worth $2,527,000 after acquiring an additional 121,323 shares during the last quarter. CastleKnight Management LP boosted its holdings in Algoma Steel Group by 123.0% in the 4th quarter. CastleKnight Management LP now owns 345,500 shares of the company’s stock valued at $3,465,000 after purchasing an additional 190,600 shares during the last quarter. McAdam LLC acquired a new position in Algoma Steel Group in the 4th quarter valued at about $161,000. Donald Smith & CO. Inc. boosted its holdings in Algoma Steel Group by 25.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 9,623,479 shares of the company’s stock valued at $96,523,000 after purchasing an additional 1,959,530 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Algoma Steel Group in the 4th quarter valued at about $19,461,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 2.87%. Algoma Steel Group’s payout ratio is presently 64.52%.

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.