Algoma Central (TSE:ALC) Shares Cross Above 50-Day Moving Average – Here’s Why

Algoma Central Co. (TSE:ALC)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$22.00 and traded as high as C$22.39. Algoma Central shares last traded at C$22.00, with a volume of 2,774 shares traded.

Algoma Central Price Performance

The company has a quick ratio of 2.06, a current ratio of 0.48 and a debt-to-equity ratio of 61.22. The company’s fifty day moving average price is C$22.00 and its 200 day moving average price is C$20.97. The company has a market capitalization of C$892.50 million, a P/E ratio of 5.30 and a beta of 0.96.

Algoma Central (TSE:ALC) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.05 earnings per share (EPS) for the quarter. The business had revenue of C$127.78 million during the quarter. Algoma Central had a return on equity of 17.62% and a net margin of 21.56%. As a group, sell-side analysts forecast that Algoma Central Co. will post 1.898977 EPS for the current year.

Algoma Central Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, May 15th. Algoma Central’s dividend payout ratio is presently 19.52%.

About Algoma Central

Algoma Central Corporation is a global provider of marine transportation, owning and operating dry and liquid bulk carriers that serve critical industries throughout the Great Lakes-St. Lawrence Region and internationally. Focused on delivering exceptional customer service, utilizing fuel efficient vessels, and advancing innovative technologies, Algoma drives productivity while contributing to economic growth, strengthening communities, and supporting its people. Algoma truly is Your Marine Carrier of Choice ¿.