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

2 Wall Street 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 analysts is that investors should "buy" ASTL shares.
View ASTL analyst ratings or view top-rated stocks.

2 analysts have issued 1-year target prices for Algoma Steel Group's stock. Their ASTL share price forecasts range from $17.00 to $17.00. On average, they predict the company's share price to reach $17.00 in the next year. This suggests a possible upside of 155.3% 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 start of the year. Since then, ASTL stock has increased by 5.0% and is now trading at $6.66.
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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) announced its earnings results on Thursday, August, 10th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.12. The business had revenue of $615.87 million for the quarter, compared to analyst estimates of $596.30 million. Algoma Steel Group had a net margin of 4.90% and a trailing twelve-month return on equity of 8.67%. During the same period in the prior year, the firm earned $1.17 EPS.

Algoma Steel Group announced a quarterly dividend on Thursday, August 10th. Investors of record on Friday, August 25th will be paid a dividend of $0.05 per share on Friday, September 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.00%. 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 2.94%. 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 29.41% 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."

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 $6.66.

Algoma Steel Group (NASDAQ:ASTL) has a market capitalization of $689.98 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.