Cormark Research Analysts Raise Earnings Estimates for ASTL

Key Points

• Cormark has raised its FY2026 earnings estimates for Algoma Steel Group to $0.64 per share, up from a previous forecast of $0.58.
• Algoma Steel Group reported a loss of $0.74 EPS for the last quarter, missing the consensus estimate of ($0.45) by $0.29.
• Despite the recent downgrade by BMO Capital Markets, several institutional investors have increased their stakes in Algoma Steel Group.

Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) - Research analysts at Cormark lifted their FY2026 EPS estimates for shares of Algoma Steel Group in a report released on Thursday, July 31st. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $0.64 per share for the year, up from their previous forecast of $0.58. The consensus estimate for Algoma Steel Group's current full-year earnings is ($0.63) per share.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.29). Algoma Steel Group had a negative return on equity of 22.24% and a negative net margin of 13.51%. The firm had revenue of $433.14 million during the quarter, compared to analyst estimates of $577.67 million.

Several other research analysts have also recently commented on the stock. Wall Street Zen cut shares of Algoma Steel Group from a "hold" rating to a "sell" rating in a report on Saturday. BMO Capital Markets cut shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, June 2nd. Stifel Canada cut shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Royal Bank Of Canada upgraded shares of Algoma Steel Group to a "hold" rating in a report on Tuesday, April 22nd.

Algoma Steel Group Trading Down 0.9%

Shares of ASTL traded down $0.05 during midday trading on Friday, hitting $4.97. The stock had a trading volume of 378,182 shares, compared to its average volume of 1,014,420. Algoma Steel Group has a fifty-two week low of $4.17 and a fifty-two week high of $12.14. The business has a 50-day simple moving average of $6.33 and a two-hundred day simple moving average of $6.35. The firm has a market cap of $521.00 million, a P/E ratio of -2.23 and a beta of 1.63. The company has a current ratio of 2.46, a quick ratio of 0.98 and a debt-to-equity ratio of 0.47.

Institutional Trading of Algoma Steel Group

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in shares of Algoma Steel Group during the fourth quarter worth approximately $114,000. Two Sigma Investments LP boosted its holdings in shares of Algoma Steel Group by 41.8% during the fourth quarter. Two Sigma Investments LP now owns 36,600 shares of the company's stock worth $358,000 after purchasing an additional 10,781 shares during the period. Renaissance Technologies LLC raised its position in Algoma Steel Group by 11.2% during the fourth quarter. Renaissance Technologies LLC now owns 89,374 shares of the company's stock valued at $874,000 after acquiring an additional 8,974 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Algoma Steel Group by 276.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company's stock valued at $12,884,000 after acquiring an additional 966,976 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in Algoma Steel Group during the fourth quarter valued at approximately $1,643,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.