Algoma Central (TSE:ALC) Price Target Increased to C$19.50 by Analysts at Cormark

Algoma Central (TSE:ALC) had its target price lifted by Cormark from C$18.50 to C$19.50 in a research note released on Thursday morning, BayStreet.CA reports.

Algoma Central Price Performance

ALC stock opened at C$14.73 on Thursday. The firm has a 50 day moving average of C$14.82 and a 200-day moving average of C$14.85. The firm has a market capitalization of C$582.13 million, a P/E ratio of 7.12 and a beta of 0.72. Algoma Central has a 12 month low of C$14.14 and a 12 month high of C$15.75. The company has a current ratio of 1.10, a quick ratio of 2.06 and a debt-to-equity ratio of 48.49.

Algoma Central (TSE:ALC) last announced its quarterly earnings results on Monday, February 26th. The company reported C$0.80 EPS for the quarter, beating the consensus estimate of C$0.57 by C$0.23. The firm had revenue of C$201.32 million during the quarter, compared to the consensus estimate of C$186.60 million. Algoma Central had a net margin of 11.86% and a return on equity of 11.02%. As a group, sell-side analysts predict that Algoma Central will post 1.7768396 earnings per share for the current fiscal year.

Algoma Central Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $0.19 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.76 dividend on an annualized basis and a yield of 5.16%. Algoma Central’s dividend payout ratio is currently 36.71%.

About Algoma Central

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.