Equities Analysts Issue Forecasts for ASTL FY2025 Earnings

Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) - Equities researchers at Stifel Canada lifted their FY2025 earnings per share estimates for shares of Algoma Steel Group in a research note issued to investors on Wednesday, October 16th. Stifel Canada analyst I. Gillies now anticipates that the company will post earnings per share of ($0.73) for the year, up from their previous estimate of ($0.96). The consensus estimate for Algoma Steel Group's current full-year earnings is ($0.69) per share. Stifel Canada also issued estimates for Algoma Steel Group's FY2026 earnings at $1.23 EPS.

Algoma Steel Group Trading Down 2.4 %

ASTL traded down $0.24 on Monday, reaching $9.77. 161,323 shares of the company's stock were exchanged, compared to its average volume of 569,719. Algoma Steel Group has a twelve month low of $6.41 and a twelve month high of $10.71. The company's 50 day moving average is $10.00 and its 200-day moving average is $8.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.15 and a current ratio of 4.19. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 32.29 and a beta of 1.50.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.04. The company had revenue of $475.44 million for the quarter, compared to the consensus estimate of $444.32 million. Algoma Steel Group had a negative return on equity of 1.23% and a negative net margin of 0.72%.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 23rd were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, August 23rd. Algoma Steel Group's payout ratio is currently 64.52%.

Hedge Funds Weigh In On Algoma Steel Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new stake in Algoma Steel Group in the 4th quarter valued at $114,000. Thomist Capital Management LP raised its holdings in shares of Algoma Steel Group by 100.3% during the 1st quarter. Thomist Capital Management LP now owns 5,007,597 shares of the company's stock valued at $42,514,000 after buying an additional 2,508,133 shares during the period. Swiss National Bank raised its holdings in shares of Algoma Steel Group by 6.1% during the 1st quarter. Swiss National Bank now owns 196,107 shares of the company's stock valued at $1,672,000 after buying an additional 11,300 shares during the period. Russell Investments Group Ltd. lifted its position in Algoma Steel Group by 63.1% during the 1st quarter. Russell Investments Group Ltd. now owns 409,658 shares of the company's stock worth $3,485,000 after acquiring an additional 158,526 shares in the last quarter. Finally, MMCAP International Inc. SPC boosted its holdings in Algoma Steel Group by 152.2% in the 1st quarter. MMCAP International Inc. SPC now owns 7,789,470 shares of the company's stock worth $66,133,000 after acquiring an additional 4,700,510 shares during the period. Institutional investors and hedge funds own 72.00% of the company's stock.

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.