Algoma Central (TSE:ALC) Sets New 52-Week High – Time to Buy?

Algoma Central Co. (TSE:ALC)’s share price reached a new 52-week high on Monday . The stock traded as high as C$15.58 and last traded at C$15.44, with a volume of 43621 shares changing hands. The stock had previously closed at C$14.81.

Algoma Central Stock Up 4.3 %

The company has a quick ratio of 2.06, a current ratio of 0.65 and a debt-to-equity ratio of 56.47. The business’s fifty day moving average price is C$14.50 and its 200 day moving average price is C$14.47. The firm has a market capitalization of C$626.40 million, a PE ratio of 9.30 and a beta of 0.72.

Algoma Central (TSE:ALC) last issued its quarterly earnings results on Friday, August 2nd. The company reported C$0.44 earnings per share for the quarter, missing the consensus estimate of C$0.81 by C($0.37). The company had revenue of C$180.97 million for the quarter, compared to analyst estimates of C$215.80 million. Algoma Central had a return on equity of 9.14% and a net margin of 9.98%. On average, equities research analysts forecast that Algoma Central Co. will post 1.8880407 earnings per share for the current fiscal year.

Algoma Central Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.92%. Algoma Central’s dividend payout ratio (DPR) is presently 45.78%.

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.