Algoma Central (TSE:ALC) Share Price Passes Above 50-Day Moving Average - What's Next?

Key Points

• Shares passed above its 50-day moving average — Algoma Central traded as high as C$21.82 (50‑day MA C$21.66) and last at C$21.59 on volume of 16,287, suggesting a short-term technical uptick.
• Dividend increased — the company raised its quarterly payout to C$0.21 (annualized C$0.84) for a ~3.9% yield, up from C$0.20, with a payout ratio of 22.66%.
• Solid recent fundamentals — Algoma reported C$2.32 EPS for the quarter, with ROE of 15.49% and a net margin of 18.79%; market cap is C$875.9M and the stock trades at a P/E of 6.12 (analysts forecast ~1.90 EPS for the year).

Algoma Central Co. (TSE:ALC - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$21.66 and traded as high as C$21.82. Algoma Central shares last traded at C$21.59, with a volume of 16,287 shares changing hands.

Algoma Central Stock Up 0.4%

The stock has a market capitalization of C$875.86 million, a price-to-earnings ratio of 6.12 and a beta of 0.93. The business has a fifty day moving average of C$21.66 and a 200 day moving average of C$19.99. The company has a debt-to-equity ratio of 53.20, a current ratio of 0.71 and a quick ratio of 2.06.

Algoma Central (TSE:ALC - Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported C$2.32 EPS for the quarter. Algoma Central had a return on equity of 15.49% and a net margin of 18.79%. As a group, equities analysts predict that Algoma Central Co. will post 1.898977 earnings per share for the current year.

Algoma Central Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, March 2nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.9%. This is a positive change from Algoma Central's previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 13th. Algoma Central's payout ratio is currently 22.66%.

About Algoma Central

Algoma Central Corp owns and operates the fleet of dry and liquid bulk carriers operating on the Great Lakes, St. Lawrence Waterway. The company's Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean SelfUnloaders, Corporate, Investment Properties, and Global Short Sea Shipping. The company earns revenues from marine operations through contracts of affreightment, time charters, and pool revenue.

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