Algoma Central (TSE:ALC) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of Algoma Central Co. (TSE:ALC) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$18.72 and traded as high as C$19.56. Algoma Central shares last traded at C$19.45, with a volume of 16,167 shares changing hands.

Algoma Central Stock Up 2.0%

The stock has a market capitalization of C$789.05 million, a P/E ratio of 7.81 and a beta of 0.36. The company has a debt-to-equity ratio of 50.70, a current ratio of 0.76 and a quick ratio of 2.06. The stock has a fifty day moving average price of C$18.72 and a 200 day moving average price of C$17.50.

Algoma Central (TSE:ALC) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.97 earnings per share (EPS) for the quarter. Algoma Central had a return on equity of 9.26% and a net margin of 10.59%.The company had revenue of C$228.04 million for the quarter. On average, research analysts forecast that Algoma Central Co. will post 1.898977 earnings per share for the current year.

Algoma Central Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, December 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, November 17th. Algoma Central’s dividend payout ratio is presently 31.73%.

About Algoma Central

Algoma Central Corp owns and operates the fleet of dry and liquid bulk carriers operating on the Great Lakes, St. Lawrence Waterway. The company’s Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean SelfUnloaders, Corporate, Investment Properties, and Global Short Sea Shipping. The company earns revenues from marine operations through contracts of affreightment, time charters, and pool revenue.