Algoma Central (TSE:ALC) Shares Pass Below 50 Day Moving Average – Here’s Why

Algoma Central Co. (TSE:ALC)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$21.00 and traded as low as C$20.69. Algoma Central shares last traded at C$20.69, with a volume of 12,130 shares traded.

Algoma Central Trading Up 2.3%

The company has a debt-to-equity ratio of 53.20, a current ratio of 0.71 and a quick ratio of 2.06. The firm’s 50 day moving average price is C$21.03 and its 200 day moving average price is C$19.12. The stock has a market capitalization of C$858.42 million, a P/E ratio of 5.99 and a beta of 0.82.

Algoma Central (TSE:ALC) last posted its earnings results on Thursday, March 5th. The company reported C$2.32 earnings per share (EPS) for the quarter. Algoma Central had a return on equity of 15.49% and a net margin of 18.79%. As a group, equities research analysts expect that Algoma Central Co. will post 1.898977 earnings per share for the current fiscal year.

Algoma Central Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, March 2nd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.0%. This is a boost from Algoma Central’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 13th. Algoma Central’s payout ratio is presently 22.66%.

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. The company earns revenues from marine operations through contracts of affreightment, time charters, and pool revenue.