Algoma Central (TSE:ALC) Price Target Raised to C$19.00

Algoma Central (TSE:ALC) had its price objective upped by Cormark from C$17.00 to C$19.00 in a research note released on Monday morning, BayStreet.CA reports.

Algoma Central stock opened at C$12.60 on Monday. The firm has a 50 day simple moving average of C$13.00 and a 200-day simple moving average of C$13.20. Algoma Central has a 1-year low of C$11.61 and a 1-year high of C$14.23. The company has a debt-to-equity ratio of 40.78, a current ratio of 1.41 and a quick ratio of 1.21. The stock has a market cap of $488.12 million and a price-to-earnings ratio of 13.00.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, September 3rd will be paid a $0.10 dividend. The ex-dividend date is Monday, August 19th. This represents a $0.40 annualized dividend and a dividend yield of 3.17%. Algoma Central’s dividend payout ratio (DPR) is 41.28%.

About Algoma Central

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers on the Great Lakes – St. Lawrence Waterway in Canada. It operates in six segments: Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, Investment Properties, and Corporate. The company operates 12 self-unloading bulk carriers and 8 gearless bulk carriers; and owns and manages seven double-hull product tankers for the transportation of liquid petroleum products throughout the Great Lakes, the St.

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