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

Key Points

• Technical move: Algoma Central shares passed above their 50‑day moving average (50‑day C$21.66) and traded as high as C$21.82 on Tuesday with about 11,712 shares changing hands, while the 200‑day MA is C$19.87, indicating near‑term strength.
• Fundamentals and dividend: The company reported quarterly EPS of C$2.32, has a market cap of C$885M and a P/E of 6.18, and raised its quarterly dividend to C$0.21 (annualized C$0.84) for a 3.8% yield with a ~22.7% payout ratio.

Algoma Central Co. (TSE:ALC - Get Free Report) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$21.66 and traded as high as C$21.82. Algoma Central shares last traded at C$21.82, with a volume of 11,712 shares trading hands.

Algoma Central Stock Down 0.8%

The stock's fifty day moving average price is C$21.66 and its 200 day moving average price is C$19.87. The stock has a market cap of C$885.19 million, a P/E ratio of 6.18 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.

Algoma Central (TSE:ALC - Get Free Report) last released its 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, research analysts forecast that Algoma Central Co. will post 1.898977 earnings per share for the current fiscal year.

Algoma Central Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, March 2nd were paid a $0.21 dividend. This is an increase from Algoma Central's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend 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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