Algoma Central (TSE:ALC) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Algoma Central Co. (TSE:ALC) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$21.53 and traded as high as C$22.67. Algoma Central shares last traded at C$21.99, with a volume of 14,553 shares traded.

Algoma Central Stock Performance

The stock has a market cap of C$874.24 million, a price-to-earnings ratio of 5.19 and a beta of 0.93. The company has a current ratio of 0.48, a quick ratio of 2.06 and a debt-to-equity ratio of 61.22. The firm’s 50-day moving average is C$21.55 and its two-hundred day moving average is C$20.35.

Algoma Central (TSE:ALC) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.05 earnings per share (EPS) for the quarter. Algoma Central had a net margin of 21.56% and a return on equity of 17.62%. The company had revenue of C$127.78 million during the quarter. As a group, sell-side analysts expect that Algoma Central Co. will post 1.898977 earnings per share for the current year.

Algoma Central Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, May 15th. Algoma Central’s dividend payout ratio is currently 19.52%.

About Algoma Central

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.