Algoma Central (TSE:ALC) Sets New 52-Week High – Should You Buy?

Algoma Central Co. (TSE:ALC)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$18.50 and last traded at C$18.31, with a volume of 2629 shares. The stock had previously closed at C$18.30.

Algoma Central Stock Down 0.9%

The business’s 50-day moving average is C$17.46 and its 200-day moving average is C$16.76. The company has a market capitalization of C$742.80 million, a price-to-earnings ratio of 7.35 and a beta of 0.12. The company has a quick ratio of 2.06, a current ratio of 0.76 and a debt-to-equity ratio of 50.70.

Algoma Central (TSE:ALC) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.97 earnings per share for the quarter. The company had revenue of C$228.04 million during the quarter. Algoma Central had a return on equity of 9.26% and a net margin of 10.59%. As a group, equities analysts predict that Algoma Central Co. will post 1.898977 earnings per share for the current year.

Algoma Central Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, December 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.4%. Algoma Central’s payout ratio is currently 31.73%.

Algoma Central Company Profile

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.