Cormark Has Optimistic Outlook of ASTL FY2026 Earnings

Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) - Analysts at Cormark lifted their FY2026 earnings per share estimates for Algoma Steel Group in a research report issued to clients and investors on Friday, November 8th. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $0.59 per share for the year, up from their prior estimate of $0.53. The consensus estimate for Algoma Steel Group's current full-year earnings is ($0.58) per share.

Algoma Steel Group Price Performance

NASDAQ:ASTL traded up $0.09 during mid-day trading on Monday, hitting $11.70. The company's stock had a trading volume of 721,575 shares, compared to its average volume of 581,613. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -9.24 and a beta of 1.49. The company has a current ratio of 4.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.39. Algoma Steel Group has a fifty-two week low of $6.67 and a fifty-two week high of $12.14. The stock has a fifty day moving average of $10.21 and a 200-day moving average of $8.88.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.04. Algoma Steel Group had a negative net margin of 6.30% and a negative return on equity of 10.48%. The company had revenue of $475.44 million during the quarter, compared to analysts' expectations of $444.32 million.

Algoma Steel Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. Algoma Steel Group's dividend payout ratio (DPR) is presently -15.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Algoma Steel Group by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 81,305 shares of the company's stock worth $563,000 after acquiring an additional 1,621 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Algoma Steel Group by 13.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company's stock worth $217,000 after purchasing an additional 2,481 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Algoma Steel Group by 5.8% during the second quarter. CIBC Asset Management Inc now owns 103,334 shares of the company's stock worth $716,000 after purchasing an additional 5,674 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Algoma Steel Group by 1.7% in the second quarter. Bank of Montreal Can now owns 364,422 shares of the company's stock valued at $2,536,000 after buying an additional 6,154 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of Algoma Steel Group by 23.5% in the third quarter. GSA Capital Partners LLP now owns 44,757 shares of the company's stock valued at $458,000 after buying an additional 8,502 shares during the last quarter. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Company Profile

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.