Algoma Central (TSE:ALC) Stock Passes Above 50-Day Moving Average - Here's Why

Key Points

• Algoma Central stock crossed above its 50‑day moving average (C$21.55), trading as high as C$22.00 and last at C$21.50 on a volume of 6,049 shares.
• Fundamentals show a market cap of C$872.2M, a P/E of 6.09, recent quarterly EPS of C$2.32 with analysts forecasting ~1.90 EPS for the year, and strong profitability (ROE ~15.5%, net margin ~18.8%).
• Dividend was increased to C$0.21 quarterly (C$0.84 annualized) for a 3.9% yield and a payout ratio of about 22.7%, paid March 2 (ex‑dividend Feb 13).

Algoma Central Co. (TSE:ALC - Get Free Report) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$21.55 and traded as high as C$22.00. Algoma Central shares last traded at C$21.50, with a volume of 6,049 shares changing hands.

Algoma Central Trading Down 1.3%

The stock has a market cap of C$872.21 million, a P/E ratio of 6.09 and a beta of 0.92. The company has a current ratio of 0.71, a quick ratio of 2.06 and a debt-to-equity ratio of 53.20. The company has a 50-day moving average price of C$21.55 and a two-hundred day moving average price of C$19.61.

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

Algoma Central Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, March 2nd were paid a $0.21 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.9%. This is an increase from Algoma Central's previous quarterly dividend of $0.20. Algoma Central's dividend payout ratio (DPR) is presently 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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