Algoma Steel Group (ASTL) Stock Forecast, Price & News

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Algoma Steel Group in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" ASTL shares.
View ASTL analyst ratings or view top-rated stocks.

2 brokers have issued 1-year price targets for Algoma Steel Group's stock. Their ASTL share price forecasts range from $17.00 to $17.00. On average, they expect the company's stock price to reach $17.00 in the next twelve months. This suggests a possible upside of 150.7% from the stock's current price.
View analysts price targets for ASTL or view top-rated stocks among Wall Street analysts.

Algoma Steel Group's stock was trading at $6.34 on January 1st, 2023. Since then, ASTL shares have increased by 6.9% and is now trading at $6.78.
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Algoma Steel Group saw a decrease in short interest in the month of August. As of August 31st, there was short interest totaling 4,410,000 shares, a decrease of 6.0% from the August 15th total of 4,690,000 shares. Based on an average trading volume of 701,200 shares, the short-interest ratio is presently 6.3 days.
View Algoma Steel Group's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Monday, November 6th 2023.
View our ASTL earnings forecast.

Algoma Steel Group Inc. (NASDAQ:ASTL) issued its quarterly earnings results on Thursday, August, 10th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by $0.12. The company had revenue of $615.87 million for the quarter, compared to analyst estimates of $596.30 million. Algoma Steel Group had a trailing twelve-month return on equity of 8.67% and a net margin of 4.90%. During the same period last year, the company earned $1.17 EPS.

Algoma Steel Group declared a quarterly dividend on Thursday, August 10th. Shareholders of record on Friday, August 25th will be given a dividend of $0.05 per share on Friday, September 29th. This represents a $0.20 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, August 24th.
Read our dividend analysis for ASTL.

VanEck Steel ETF holds 116,918 shares of ASTL stock, representing 0.70% of its portfolio.

Algoma Steel Group (NASDAQ:ASTL) pays an annual dividend of $0.20 per share and currently has a dividend yield of 2.95%. The dividend payout ratio is 66.67%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ASTL will have a dividend payout ratio of 25.32% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ASTL.

Algoma Steel Group trades on the NASDAQ under the ticker symbol "ASTL."

Algoma Steel Group's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Donald Smith & CO. Inc. (7.23%), Maple Rock Capital Partners Inc. (5.88%), Contrarian Capital Management L.L.C. (5.08%), Thomist Capital Management LP (2.58%), Towle & Co. (2.53%) and Littlejohn & Co. LLC (2.16%).

Shares of ASTL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ASTL stock can currently be purchased for approximately $6.78.

Algoma Steel Group (NASDAQ:ASTL) has a market capitalization of $702.41 million and generates $2.10 billion in revenue each year. The company earns $225.82 million in net income (profit) each year or $0.30 on an earnings per share basis.

The company employs 2,847 workers across the globe.

Algoma Steel Group's mailing address is 777 THIRD AVENUE 37TH FLOOR, NEW YORK NY, 10017. The official website for the company is www.algoma.com. The company can be reached via phone at 705-945-2351 or via email at ir@algoma.com.