Cormark Equities Analysts Reduce Earnings Estimates for Algoma Steel Group Inc. (NASDAQ:ASTL)

Algoma Steel Group Inc. (NASDAQ:ASTL) – Equities researchers at Cormark cut their FY2025 EPS estimates for Algoma Steel Group in a research note issued to investors on Tuesday, March 26th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $0.83 per share for the year, down from their prior forecast of $0.92. The consensus estimate for Algoma Steel Group’s current full-year earnings is $0.69 per share.

Algoma Steel Group Stock Up 0.7 %

Shares of NASDAQ ASTL opened at $8.49 on Friday. The business has a fifty day moving average of $8.21 and a two-hundred day moving average of $8.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 2.88. Algoma Steel Group has a 52-week low of $6.34 and a 52-week high of $10.25. The stock has a market cap of $883.83 million, a PE ratio of 84.90 and a beta of 1.52.

Algoma Steel Group (NASDAQ:ASTL) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.57) earnings per share (EPS) for the quarter. The company had revenue of $452.07 million for the quarter, compared to the consensus estimate of $453.22 million. Algoma Steel Group had a net margin of 2.05% and a return on equity of 3.84%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Aigen Investment Management LP bought a new position in shares of Algoma Steel Group in the third quarter valued at about $186,000. EJF Capital LLC raised its holdings in shares of Algoma Steel Group by 35.0% in the third quarter. EJF Capital LLC now owns 36,458 shares of the company’s stock valued at $248,000 after buying an additional 9,458 shares during the last quarter. Jump Financial LLC bought a new position in shares of Algoma Steel Group in the third quarter valued at about $455,000. Barclays PLC raised its holdings in shares of Algoma Steel Group by 157.7% in the second quarter. Barclays PLC now owns 23,548 shares of the company’s stock valued at $168,000 after buying an additional 14,411 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in Algoma Steel Group during the 2nd quarter worth about $75,000. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, February 29th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.36%. Algoma Steel Group’s dividend payout ratio is 200.00%.

Algoma Steel Group Company Profile

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.