Cormark Increases Algoma Central (TSE:ALC) Price Target to C$19.50

Algoma Central (TSE:ALC) had its target price raised by equities researchers at Cormark from C$18.50 to C$19.50 in a note issued to investors on Thursday, BayStreet.CA reports. Cormark’s target price would indicate a potential upside of 32.38% from the company’s previous close.

Algoma Central Trading Up 1.0 %

ALC opened at C$14.73 on Thursday. The firm has a market capitalization of C$582.13 million, a price-to-earnings ratio of 7.12 and a beta of 0.72. The company’s 50 day simple moving average is C$14.83 and its two-hundred day simple moving average is C$14.85. Algoma Central has a 1-year low of C$14.14 and a 1-year high of C$15.75. The company has a debt-to-equity ratio of 48.49, a current ratio of 1.10 and a quick ratio of 2.06.

Algoma Central (TSE:ALC) last announced its quarterly earnings data on Monday, February 26th. The company reported C$0.80 EPS for the quarter, topping analysts’ consensus estimates of C$0.57 by C$0.23. The firm had revenue of C$201.32 million for the quarter, compared to the consensus estimate of C$186.60 million. Algoma Central had a return on equity of 11.02% and a net margin of 11.86%. Analysts expect that Algoma Central will post 1.7768396 EPS for the current fiscal year.

Algoma Central Company Profile

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.