Algoma Steel Group Inc. to Post FY2025 Earnings of $0.92 Per Share, Cormark Forecasts (NASDAQ:ASTL)

Algoma Steel Group Inc. (NASDAQ:ASTLFree Report) – Stock analysts at Cormark boosted their FY2025 earnings per share estimates for shares of Algoma Steel Group in a research note issued to investors on Thursday, February 8th. Cormark analyst D. Ocampo now forecasts that the company will post earnings per share of $0.92 for the year, up from their prior forecast of $0.84. The consensus estimate for Algoma Steel Group’s current full-year earnings is $0.91 per share.

Algoma Steel Group Stock Performance

ASTL opened at $8.21 on Friday. Algoma Steel Group has a 52-week low of $6.34 and a 52-week high of $10.25. The business’s fifty day moving average is $9.00 and its 200-day moving average is $7.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.37 and a current ratio of 2.88. The firm has a market cap of $854.15 million, a P/E ratio of 82.10 and a beta of 1.57.

Algoma Steel Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, February 29th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.20 dividend on an annualized basis and a yield of 2.44%. Algoma Steel Group’s dividend payout ratio (DPR) is 200.00%.

Institutional Investors Weigh In On Algoma Steel Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Algoma Steel Group by 1,414.9% in the first quarter. JPMorgan Chase & Co. now owns 51,508 shares of the company’s stock valued at $579,000 after buying an additional 48,108 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Algoma Steel Group by 30.4% during the 1st quarter. Bank of Montreal Can now owns 75,868 shares of the company’s stock valued at $870,000 after acquiring an additional 17,698 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Algoma Steel Group during the 1st quarter worth $561,000. Renaissance Technologies LLC acquired a new position in Algoma Steel Group in the 1st quarter worth about $730,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Algoma Steel Group in the first quarter valued at approximately $249,000. 64.65% of the stock is currently owned by institutional investors.

Algoma Steel Group Company Profile

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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.

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Earnings History and Estimates for Algoma Steel Group (NASDAQ:ASTL)

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