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

1 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Algoma Steel Group in the last twelve months. There are currently 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" ASTL shares.
View ASTL analyst ratings or view top-rated stocks.

1 Wall Street analysts have issued 1 year target prices for Algoma Steel Group's shares. Their ASTL share price forecasts range from $10.75 to $15.00. On average, they expect the company's stock price to reach $12.88 in the next year. This suggests a possible upside of 63.4% 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 at the beginning of the year. Since then, ASTL shares have increased by 24.3% and is now trading at $7.88.
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Algoma Steel Group saw a decline in short interest during the month of May. As of May 15th, there was short interest totaling 3,660,000 shares, a decline of 32.6% from the April 30th total of 5,430,000 shares. Based on an average daily trading volume, of 894,800 shares, the days-to-cover ratio is presently 4.1 days.
View Algoma Steel Group's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, June 21st 2023.
View our ASTL earnings forecast.

Algoma Steel Group declared a quarterly dividend on Monday, February 13th. Investors of record on Tuesday, February 28th will be paid a dividend of $0.05 per share on Friday, March 31st. This represents a $0.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Monday, February 27th.
Read our dividend analysis for ASTL.

ETFs with the largest weight of Algoma Steel Group (NASDAQ:ASTL) stock in their portfolio include VanEck Steel ETF (SLX) and Invesco Zacks Multi-Asset Income ETF (CVY).Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN).

Algoma Steel Group (NASDAQ:ASTL) pays an annual dividend of $0.20 per share and currently has a dividend yield of 2.66%. The dividend payout ratio is 9.39%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ASTL will have a dividend payout ratio of 11.30% 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 institutional and retail investors. Top institutional shareholders include Donald Smith & CO. Inc. (7.04%), Goldentree Asset Management LP (2.34%), TCW Group Inc. (2.19%), Gendell Jeffrey L (1.95%), Solas Capital Management LLC (1.28%) and BlackRock Inc. (1.18%).

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 $7.88.

Algoma Steel Group (NASDAQ:ASTL) has a market capitalization of $816.13 million and generates $3.00 billion in revenue each year. The company earns $684.27 million in net income (profit) each year or $2.13 on an earnings per share basis.

The company employs 2,677 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.