Algoma Central Co. (TSE:ALC) Forecasted to Post FY2024 Earnings of $1.77 Per Share

Algoma Central Co. (TSE:ALC) – Research analysts at Cormark cut their FY2024 EPS estimates for shares of Algoma Central in a note issued to investors on Tuesday, August 6th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $1.77 per share for the year, down from their prior forecast of $2.16. The consensus estimate for Algoma Central’s current full-year earnings is $2.16 per share. Cormark also issued estimates for Algoma Central’s Q4 2024 earnings at $0.77 EPS, Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.91 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $1.90 EPS and FY2026 earnings at $2.09 EPS.

Algoma Central Price Performance

Shares of TSE ALC traded up C$0.06 during mid-day trading on Thursday, reaching C$14.28. The company had a trading volume of 15,527 shares, compared to its average volume of 12,602. Algoma Central has a one year low of C$14.07 and a one year high of C$15.75. The business’s 50-day simple moving average is C$14.26 and its 200 day simple moving average is C$14.62. The company has a debt-to-equity ratio of 56.05, a quick ratio of 2.06 and a current ratio of 0.58. The firm has a market cap of C$564.35 million, a price-to-earnings ratio of 6.90 and a beta of 0.72.

Algoma Central Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend is Tuesday, August 20th. Algoma Central’s payout ratio is presently 36.71%.

About Algoma Central

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