Should I buy or sell Algoma Steel Group stock right now?

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

What is Algoma Steel Group's stock price target for 2024?

2 analysts have issued 1-year price targets for Algoma Steel Group's shares. Their ASTL share price targets range from $17.00 to $17.00. On average, they predict the company's stock price to reach $17.00 in the next twelve months. This suggests a possible upside of 96.8% from the stock's current price. View analysts price targets for ASTL or view top-rated stocks among Wall Street analysts .

How have ASTL shares performed in 2023?

Algoma Steel Group's stock was trading at $6.34 at the start of the year. Since then, ASTL shares have increased by 36.3% and is now trading at $8.64. View the best growth stocks for 2023 here .

Are investors shorting Algoma Steel Group?

Algoma Steel Group saw a decrease in short interest during the month of November. As of November 15th, there was short interest totaling 3,540,000 shares, a decrease of 8.5% from the October 31st total of 3,870,000 shares. Based on an average trading volume of 467,200 shares, the days-to-cover ratio is currently 7.6 days. View Algoma Steel Group's Short Interest .

When is Algoma Steel Group's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, February 12th 2024. View our ASTL earnings forecast .

How were Algoma Steel Group's earnings last quarter?

Algoma Steel Group Inc. (NASDAQ:ASTL) announced its quarterly earnings results on Thursday, November, 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by $0.07. The firm earned $546.13 million during the quarter, compared to analysts' expectations of $514.96 million. Algoma Steel Group had a trailing twelve-month return on equity of 4.77% and a net margin of 2.60%.

How often does Algoma Steel Group pay dividends? What is the dividend yield for Algoma Steel Group?

Algoma Steel Group announced a quarterly dividend on Thursday, November 2nd. Investors of record on Thursday, November 30th will be given a dividend of $0.086 per share on Friday, December 29th. This represents a $0.34 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, November 29th. This is a boost from the stock's previous quarterly dividend of $0.05. Read our dividend analysis for ASTL .

Is Algoma Steel Group a good dividend stock?

Algoma Steel Group (NASDAQ:ASTL) pays an annual dividend of $0.20 per share and currently has a dividend yield of 2.32%. The dividend payout ratio is 100.00%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ASTL will have a dividend payout ratio of 17.39% next year. This indicates that the company will be able to sustain or increase its dividend. Read our dividend analysis for ASTL .

What ETF holds Algoma Steel Group's stock ?

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

Who are Algoma Steel Group's major shareholders?

Algoma Steel Group's stock is owned by many different institutional and retail investors. Top institutional investors include Littlejohn & Co. LLC (1.90%), Intact Investment Management Inc. (1.05%), TD Asset Management Inc (0.24%), CenterBook Partners LP (0.21%), Public Sector Pension Investment Board (0.20%) and Mutual Advisors LLC (0.17%).

How do I buy shares of Algoma Steel Group?

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. Compare Top Brokerages Here .

Algoma Steel Group Stock Price, News & Analysis (NASDAQ:ASTL)

$8.64

+0.01 (+0.12%)

(As of 12/4/2023 ET)

Compare

Today's Range: $8.54
▼
$8.71
50-Day Range: $6.50
▼
$8.64
52-Week Range: $5.64
▼
$9.20

Volume: 545,677 shs
Average Volume: 799,816 shs
Market Capitalization: $897.18 million

P/E Ratio: 43.20
Dividend Yield: 2.31%
Price Target: $17.00

Algoma Steel Group MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 96.8% Upside
$17.00 Price Target
Short Interest: Healthy
3.41% of Shares Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.72
Based on 2 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 19.79%
From $0.96 to $1.15 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.17 out of 5 stars

Basic Materials Sector

3rd out of 170 stocks

Blast Furnaces & Steel Mills Industry

1st out of 12 stocks

3.5

Analyst's Opinion

Consensus Rating
Algoma Steel Group has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $17.00, Algoma Steel Group has a forecasted upside of 96.8% from its current price of $8.64.
Amount of Analyst Coverage
Algoma Steel Group has only been the subject of 1 research reports in the past 90 days.

4.0

Short Interest

Percentage of Shares Shorted
3.41% of the outstanding shares of Algoma Steel Group have been sold short.
Short Interest Ratio / Days to Cover
Algoma Steel Group has a short interest ratio ("days to cover") of 7.6.
Change versus previous month
Short interest in Algoma Steel Group has recently decreased by 8.53%, indicating that investor sentiment is improving significantly.

1.7

Dividend Strength

Dividend Yield
Algoma Steel Group pays a meaningful dividend of 2.32%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Algoma Steel Group does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Algoma Steel Group is 100.00%. Payout ratios above 75% are not desirable because they may not be sustainable.
Dividend Sustainability
Based on earnings estimates, Algoma Steel Group will have a dividend payout ratio of 17.39% next year. This indicates that Algoma Steel Group will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for ASTL.

3.2

News and Social Media Coverage

News Sentiment
Algoma Steel Group has a news sentiment score of 0.72. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.35 average news sentiment score of Basic Materials companies.
News Coverage This Week
MarketBeat has tracked 2 news articles for Algoma Steel Group this week, compared to 1 article on an average week.
MarketBeat Follows
6 people have added Algoma Steel Group to their MarketBeat watchlist in the last 30 days. This is an increase of 500% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Algoma Steel Group insiders have not sold or bought any company stock.
Percentage Held by Institutions
64.65% of the stock of Algoma Steel Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.8

Earnings and Valuation

Earnings Growth
Earnings for Algoma Steel Group are expected to grow by 19.79% in the coming year, from $0.96 to $1.15 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Algoma Steel Group is 43.20, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 113.88.
Price to Earnings Ratio vs. Sector
The P/E ratio of Algoma Steel Group is 43.20, which means that it is trading at a less expensive P/E ratio than the Basic Materials sector average P/E ratio of about 89.75.
Price to Book Value per Share Ratio
Algoma Steel Group has a P/B Ratio of 0.81. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Algoma Steel Group Stock (NASDAQ:ASTL)

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. Algoma Steel Group Inc. was founded in 1901 and is headquartered in Sault Ste. Marie, Canada.

ASTL Stock Price History

30 days | 90 days | 365 days | Advanced Chart

ASTL Stock News Headlines

November 28, 2023 | seekingalpha.com

ASTL Algoma Steel Group Inc.

November 26, 2023 | americanbankingnews.com

Algoma Steel Group (NASDAQ:ASTL) versus BlueScope Steel (OTCMKTS:BLSFY) Head-To-Head Survey

December 4, 2023 | Wealthpress (Ad)

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November 23, 2023 | seekingalpha.com

Algoma Steel: Solid Earnings Results And Increased Transparency

November 9, 2023 | finance.yahoo.com

Algoma Steel Group (NASDAQ:ASTL) Will Pay A Dividend Of CA$0.05

October 25, 2023 | seekingalpha.com

Algoma: Mr. Market Continues To Offer This Stock At A Steep Discount

October 4, 2023 | finance.yahoo.com

Algoma Steel (ASTL) Extends Iron Ore Contract for EAF Transition

September 27, 2023 | finanznachrichten.de

Algoma Steel Inc: Algoma Steel Announces Results of Voting at Annual Meeting of Shareholders

December 4, 2023 | DTI Trader (Ad)

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September 18, 2023 | markets.businessinsider.com

Stifel Nicolaus Keeps Their Buy Rating on Algoma Steel Group (ASTL)

September 12, 2023 | finance.yahoo.com

Algoma Steel Issues Inaugural Annual ESG Report

September 12, 2023 | finance.yahoo.com

This Algoma Steel Group Insider Increased Their Holding In The Last Year

August 30, 2023 | finance.yahoo.com

Algoma Steel Group to Participate in the Jefferies 2023 Industrials Conference

August 11, 2023 | finanznachrichten.de

Algoma Steel Inc: Algoma Steel Group Reports Fiscal 2024 First Quarter Financial Results

July 3, 2023 | insidermonkey.com

Algoma Steel Group Inc. (NASDAQ:ASTL) Q4 2023 Earnings Call Transcript

June 28, 2023 | theglobeandmail.com

Closing Bell: Algoma Steel Group Inc up on Wednesday (ASTL)

June 28, 2023 | finance.yahoo.com

Are Options Traders Betting on a Big Move in Algoma Steel (ASTL) Stock?

June 22, 2023 | msn.com

Why Algoma Steel Stock Dropped Today

June 22, 2023 | seekingalpha.com

Algoma Steel Group Inc. 2023 Q4 - Results - Earnings Call Presentation

June 22, 2023 | theglobeandmail.com

Algoma Steel Group reports $20.4-million fourth-quarter loss amid lower steel prices, higher costs

June 21, 2023 | msn.com

Algoma Steel Group Inc. (ASTL) Reports Q4 Loss, Tops Revenue Estimates

June 21, 2023 | finance.yahoo.com

Algoma Steel Group Reports Fiscal Fourth Quarter and Full Year 2023 Financial Results

June 20, 2023 | benzinga.com

Algoma Steel Gr Earnings Preview

June 17, 2023 | theglobeandmail.com

Closing Bell: Algoma Steel Group Inc flat on Friday (ASTL)

June 16, 2023 | finanznachrichten.de

Algoma Steel Inc: Algoma Steel Reports Fatal Incident

June 15, 2023 | finance.yahoo.com

Algoma Steel Group Inc. (NASDAQ:ASTL) is favoured by institutional owners who hold 54% of the company

June 6, 2023 | finance.yahoo.com

Algoma Steel to Announce Fiscal 2023 Fourth Quarter and Full Year Results June 21, 2023

See More Headlines

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Company Calendar

Ex-Dividend for 9/29 Dividend: 8/24/2023
Dividend Payable: 9/29/2023
Last Earnings: 11/02/2023
Ex-Dividend for 12/29 Dividend: 11/29/2023
Today: 12/04/2023
Dividend Payable: 12/29/2023
Next Earnings (Estimated): 2/12/2024
Fiscal Year End: 3/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Blast furnaces & steel mills
Sub-Industry: N/A
Sector: Basic Materials
Current Symbol: NASDAQ:ASTL
CUSIP: N/A
CIK: 1860805
Web: www.algoma.com
Phone: 705-945-2351
Fax: N/A
Employees: 2,847
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $17.00
High Stock Price Target: $17.00
Low Stock Price Target: $17.00
Potential Upside/Downside: +96.8%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.20
Trailing P/E Ratio: 43.20
Forward P/E Ratio: 9.00
P/E Growth: N/A
Net Income: $225.82 million
Net Margins: 2.60%
Pretax Margin: 3.37%
Return on Equity: 4.77%
Return on Assets: 2.81%

Debt

Debt-to-Equity Ratio: 0.08
Current Ratio: 3.23
Quick Ratio: 1.37

Sales & Book Value

Annual Sales: $2.10 billion
Price / Sales: 0.43
Cash Flow: $2.88 per share
Price / Cash Flow: 3.00
Book Value: $10.68 per share
Price / Book: 0.81

Miscellaneous

Outstanding Shares: 103,840,000
Free Float: N/A
Market Cap: $897.18 million
Optionable: Not Optionable
Beta: 1.53

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Key Executives

Mr. Michael Dennis Garcia (Age 58)
CEO & Director
Comp: $1.03M
Mr. Rajat Marwah (Age 49)
Chief Financial Officer
Comp: $539.95k
Mr. John Ralph Naccarato (Age 56)
VP of Strategy & Chief Legal Officer
Comp: $530.25k
Michael Moraca
Treasurer & Investor Relations Officer
Ms. Brenda Stenta
Manager of Communications & Branding
Mr. Rory Brandow (Age 63)
Vice President of Sales
Ms. Danielle Baker
Chief Human Resource Officer
Mr. Mike Panzeri
Senior Vice President of Production

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

ASTL Stock Analysis - Frequently Asked Questions

Should I buy or sell Algoma Steel Group stock right now?: 2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Algoma Steel Group in the last twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" ASTL shares.
View ASTL analyst ratings or view top-rated stocks.
What is Algoma Steel Group's stock price target for 2024?: 2 analysts have issued 1-year price targets for Algoma Steel Group's shares. Their ASTL share price targets range from $17.00 to $17.00. On average, they predict the company's stock price to reach $17.00 in the next twelve months. This suggests a possible upside of 96.8% from the stock's current price.
View analysts price targets for ASTL or view top-rated stocks among Wall Street analysts.
How have ASTL shares performed in 2023?: Algoma Steel Group's stock was trading at $6.34 at the start of the year. Since then, ASTL shares have increased by 36.3% and is now trading at $8.64.
View the best growth stocks for 2023 here.
Are investors shorting Algoma Steel Group?: Algoma Steel Group saw a decrease in short interest during the month of November. As of November 15th, there was short interest totaling 3,540,000 shares, a decrease of 8.5% from the October 31st total of 3,870,000 shares. Based on an average trading volume of 467,200 shares, the days-to-cover ratio is currently 7.6 days.
View Algoma Steel Group's Short Interest.
When is Algoma Steel Group's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, February 12th 2024.
View our ASTL earnings forecast.
How were Algoma Steel Group's earnings last quarter?: Algoma Steel Group Inc. (NASDAQ:ASTL) announced its quarterly earnings results on Thursday, November, 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by $0.07. The firm earned $546.13 million during the quarter, compared to analysts' expectations of $514.96 million. Algoma Steel Group had a trailing twelve-month return on equity of 4.77% and a net margin of 2.60%.

How often does Algoma Steel Group pay dividends? What is the dividend yield for Algoma Steel Group?: Algoma Steel Group announced a quarterly dividend on Thursday, November 2nd. Investors of record on Thursday, November 30th will be given a dividend of $0.086 per share on Friday, December 29th. This represents a $0.34 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, November 29th. This is a boost from the stock's previous quarterly dividend of $0.05.
Read our dividend analysis for ASTL.
Is Algoma Steel Group a good dividend stock?: Algoma Steel Group (NASDAQ:ASTL) pays an annual dividend of $0.20 per share and currently has a dividend yield of 2.32%. The dividend payout ratio is 100.00%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ASTL will have a dividend payout ratio of 17.39% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ASTL.
What ETF holds Algoma Steel Group's stock ?: VanEck Steel ETF holds 116,918 shares of ASTL stock, representing 0.70% of its portfolio.
Who are Algoma Steel Group's major shareholders?: Algoma Steel Group's stock is owned by many different institutional and retail investors. Top institutional investors include Littlejohn & Co. LLC (1.90%), Intact Investment Management Inc. (1.05%), TD Asset Management Inc (0.24%), CenterBook Partners LP (0.21%), Public Sector Pension Investment Board (0.20%) and Mutual Advisors LLC (0.17%).
How do I buy shares of Algoma Steel Group?: 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.
Compare Top Brokerages Here.

This page (NASDAQ:ASTL) was last updated on 12/4/2023 by MarketBeat.com Staff

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