Algoma Central (TSE:ALC) Shares Pass Below 50 Day Moving Average of $16.83

Algoma Central Co. (TSE:ALC – Get Rating) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$16.83 and traded as low as C$16.38. Algoma Central shares last traded at C$16.43, with a volume of 24,690 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Eight Capital lowered their price objective on shares of Algoma Central to C$15.75 and set a “hold” rating on the stock in a report on Thursday, September 29th.

Algoma Central Stock Down 0.5 %

The company has a quick ratio of 2.06, a current ratio of 2.40 and a debt-to-equity ratio of 56.50. The company has a market capitalization of C$622.27 million and a price-to-earnings ratio of 6.67. The stock’s fifty day moving average price is C$16.82 and its 200-day moving average price is C$16.62.

Algoma Central (TSE:ALC – Get Rating) last posted its quarterly earnings data on Monday, November 7th. The company reported C$1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.92 by C$0.09. The business had revenue of C$199.33 million during the quarter, compared to analyst estimates of C$192.50 million. On average, sell-side analysts predict that Algoma Central Co. will post 1.8 earnings per share for the current fiscal year.

Algoma Central Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.37%. This is an increase from Algoma Central’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, February 14th. Algoma Central’s payout ratio is presently 27.42%.

Algoma Central Company Profile

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Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers on the Great Lakes – St. Lawrence Waterway in Canada. The company operates in six segments: Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, Investment Properties, and Corporate. It operates self-unloading bulk carriers; and owns and manages tankers for the transportation of liquid petroleum products throughout the Great Lakes, the St.