Should I buy or sell Algoma Steel Group stock right now?

1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Algoma Steel Group in the last twelve months. There are currently 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "buy" ASTL shares. View ASTL analyst ratings or view top-rated stocks .

What is Algoma Steel Group's stock price target for 2024?

1 brokerages have issued 12 month price targets for Algoma Steel Group's shares. Their ASTL share price targets range from $17.00 to $17.00. On average, they predict the company's stock price to reach $17.00 in the next twelve months. This suggests a possible upside of 107.1% from the stock's current price. View analysts price targets for ASTL or view top-rated stocks among Wall Street analysts .

How have ASTL shares performed in 2024?

Algoma Steel Group's stock was trading at $10.03 at the beginning of the year. Since then, ASTL stock has decreased by 18.1% and is now trading at $8.21. View the best growth stocks for 2024 here .

When is Algoma Steel Group's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, June 19th 2024. View our ASTL earnings forecast .

How were Algoma Steel Group's earnings last quarter?

Algoma Steel Group Inc. (NASDAQ:ASTL) released its quarterly earnings results on Thursday, August, 10th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by $0.12. The firm earned $615.87 million during the quarter, compared to analysts' expectations of $596.30 million. Algoma Steel Group had a trailing twelve-month return on equity of 3.84% and a net margin of 2.05%. During the same period in the prior year, the company posted $1.17 earnings per share.

How often does Algoma Steel Group pay dividends? What is the dividend yield for Algoma Steel Group?

Algoma Steel Group announced a quarterly dividend on Tuesday, February 6th. Stockholders of record on Thursday, February 29th will be paid a dividend of $0.05 per share on Friday, March 29th. This represents a $0.20 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, February 28th. Read our dividend analysis for ASTL .

Is Algoma Steel Group a good dividend stock?

Algoma Steel Group (NASDAQ:ASTL) pays an annual dividend of $0.20 per share and currently has a dividend yield of 2.44%. The dividend payout ratio is 200.00%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ASTL will have a dividend payout ratio of 25.64% next year. This indicates that the company will be able to sustain or increase its dividend. Read our dividend analysis for ASTL .

What ETF holds Algoma Steel Group's stock ?

VanEck Steel ETF holds 116,918 shares of ASTL stock, representing 0.70% of its portfolio.

Who are Algoma Steel Group's major shareholders?

Algoma Steel Group's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Donald Smith & CO. Inc. (9.25%), TCW Group Inc. (2.34%), Sumitomo Mitsui DS Asset Management Company Ltd (1.86%), Intact Investment Management Inc. (1.06%), Russell Investments Group Ltd. (0.24%) and Swiss National Bank (0.18%).

How do I buy shares of Algoma Steel Group?

Shares of ASTL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:ASTL

Algoma Steel Group (ASTL) Stock Price, News & Analysis

$8.21

+0.27 (+3.40%)

(As of 02/9/2024 08:55 PM ET)

Compare

Today's Range: $7.87
▼
$8.27
50-Day Range: $7.94
▼
$10.22
52-Week Range: $6.34
▼
$10.25

Volume: 1.98 million shs
Average Volume: 757,675 shs
Market Capitalization: $854.17 million

P/E Ratio: 82.10
Dividend Yield: 2.44%
Price Target: $17.00

Get Algoma Steel Group alerts:

Algoma Steel Group MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 107.1% Upside
$17.00 Price Target
Short Interest: Bearish
3.39% of Shares Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.60
Based on 17 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 47.17%
From $0.53 to $0.78 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.13 out of 5 stars

Basic Materials Sector

36th out of 173 stocks

Blast Furnaces & Steel Mills Industry

3rd out of 13 stocks

3.5

Analyst's Opinion

Consensus Rating
Algoma Steel Group has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $17.00, Algoma Steel Group has a forecasted upside of 107.1% from its current price of $8.21.
Amount of Analyst Coverage
Algoma Steel Group has received no research coverage in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
3.39% of the outstanding shares of Algoma Steel Group have been sold short.
Short Interest Ratio / Days to Cover
Algoma Steel Group has a short interest ratio ("days to cover") of 5.1.
Change versus previous month
Short interest in Algoma Steel Group has recently increased by 4.13%, indicating that investor sentiment is decreasing.

1.7

Dividend Strength

Dividend Yield
Algoma Steel Group pays a meaningful dividend of 2.44%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Algoma Steel Group does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Algoma Steel Group is 200.00%. Payout ratios above 75% are not desirable because they may not be sustainable.
Dividend Sustainability
Based on earnings estimates, Algoma Steel Group will have a dividend payout ratio of 25.64% next year. This indicates that Algoma Steel Group will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for ASTL.

3.1

News and Social Media Coverage

News Sentiment
Algoma Steel Group has a news sentiment score of 0.60. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.44 average news sentiment score of Basic Materials companies.
News Coverage This Week
MarketBeat has tracked 17 news articles for Algoma Steel Group this week, compared to 1 article on an average week.
Search Interest
Only 2 people have searched for ASTL on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.
MarketBeat Follows
2 people have added Algoma Steel Group to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Algoma Steel Group insiders have not sold or bought any company stock.
Percentage Held by Institutions
64.65% of the stock of Algoma Steel Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.1

Earnings and Valuation

Earnings Growth
Earnings for Algoma Steel Group are expected to grow by 47.17% in the coming year, from $0.53 to $0.78 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Algoma Steel Group is 82.10, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 115.74.
Price to Earnings Ratio vs. Sector
The P/E ratio of Algoma Steel Group is 82.10, which means that it is trading at a more expensive P/E ratio than the Basic Materials sector average P/E ratio of about 81.75.
Price to Book Value per Share Ratio
Algoma Steel Group has a P/B Ratio of 0.77. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Algoma Steel Group Stock (NASDAQ:ASTL)

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. Algoma Steel Group Inc. was founded in 1901 and is headquartered in Sault Ste. Marie, Canada.

ASTL Stock Price History

30 days | 90 days | 365 days | Advanced Chart

ASTL Stock News Headlines

February 11, 2024 | americanbankingnews.com

FY2025 EPS Estimates for Algoma Steel Group Inc. (NASDAQ:ASTL) Increased by Cormark

February 9, 2024 | theglobeandmail.com

Algoma Steel says five workers sent to hospital after casthouse incident

February 12, 2024 | Behind the Markets (Ad)

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February 7, 2024 | seekingalpha.com

Algoma Steel Group Inc. 2024 Q3 - Results - Earnings Call Presentation

February 5, 2024 | finance.yahoo.com

Donald Smith & Co. Bolsters Stake in Algoma Steel Group Inc

February 5, 2024 | benzinga.com

Earnings Outlook For Algoma Steel Gr

February 5, 2024 | benzinga.com

Algoma Steel Gr's Earnings Outlook

February 4, 2024 | americanbankingnews.com

Algoma Steel Group (ASTL) Set to Announce Earnings on Tuesday

February 12, 2024 | Behind the Markets (Ad)

BREAKING: Tiny biotech successfully treats blindness

January 25, 2024 | markets.businessinsider.com

Algoma Steel Group’s Resilience Justifies Buy Rating Amid Short-Term Operational Hurdles

January 23, 2024 | seekingalpha.com

Algoma Steel resumes limited production at Ontario coke-making plant

January 23, 2024 | finance.yahoo.com

Algoma Steel Provides Update on Incident at Coke-Making Plant

January 20, 2024 | finance.yahoo.com

Algoma Steel Reports Incident at Coke-Making Plant

January 3, 2024 | finance.yahoo.com

Algoma Steel Provides Fiscal Third Quarter 2024 Guidance

December 30, 2023 | seekingalpha.com

ASTL.WT:CA Algoma Steel Group Inc. WT EXP 101926

December 21, 2023 | finance.yahoo.com

Algoma Steel Group Announces Director Retirement

November 28, 2023 | seekingalpha.com

ASTL Algoma Steel Group Inc.

November 23, 2023 | seekingalpha.com

Algoma Steel: Solid Earnings Results And Increased Transparency

November 9, 2023 | finance.yahoo.com

Algoma Steel Group (NASDAQ:ASTL) Will Pay A Dividend Of CA$0.05

October 25, 2023 | seekingalpha.com

Algoma: Mr. Market Continues To Offer This Stock At A Steep Discount

October 4, 2023 | finance.yahoo.com

Algoma Steel (ASTL) Extends Iron Ore Contract for EAF Transition

September 27, 2023 | finanznachrichten.de

Algoma Steel Inc: Algoma Steel Announces Results of Voting at Annual Meeting of Shareholders

September 18, 2023 | markets.businessinsider.com

Stifel Nicolaus Keeps Their Buy Rating on Algoma Steel Group (ASTL)

September 12, 2023 | finance.yahoo.com

Algoma Steel Issues Inaugural Annual ESG Report

September 12, 2023 | finance.yahoo.com

This Algoma Steel Group Insider Increased Their Holding In The Last Year

August 30, 2023 | finance.yahoo.com

Algoma Steel Group to Participate in the Jefferies 2023 Industrials Conference

August 11, 2023 | finanznachrichten.de

Algoma Steel Inc: Algoma Steel Group Reports Fiscal 2024 First Quarter Financial Results

See More Headlines

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Company Calendar

Last Earnings: 8/10/2023
Ex-Dividend for 12/29 Dividend: 11/29/2023
Dividend Payable: 12/29/2023
Today: 2/12/2024
Ex-Dividend for 3/29 Dividend: 2/28/2024
Dividend Payable: 3/29/2024
Fiscal Year End: 3/31/2024
Next Earnings (Estimated): 6/19/2024

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Basic Materials
Industry: Blast furnaces & steel mills
Sub-Industry: N/A
Current Symbol: NASDAQ:ASTL
CUSIP: N/A
CIK: 1860805
Web: www.algoma.com
Phone: 705-945-2351
Fax: N/A
Employees: 2,847
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $17.00
High Stock Price Target: $17.00
Low Stock Price Target: $17.00
Potential Upside/Downside: +107.1%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 1 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.10
Trailing P/E Ratio: 82.10
Forward P/E Ratio: 15.49
P/E Growth: N/A
Net Income: $225.82 million
Net Margins: 2.05%
Pretax Margin: 2.98%
Return on Equity: 3.84%
Return on Assets: 2.22%

Debt

Debt-to-Equity Ratio: 0.09
Current Ratio: 2.88
Quick Ratio: 0.98

Sales & Book Value

Annual Sales: $2.10 billion
Price / Sales: 0.41
Cash Flow: $2.88 per share
Price / Cash Flow: 2.85
Book Value: $10.68 per share
Price / Book: 0.77

Miscellaneous

Outstanding Shares: 104,040,000
Free Float: N/A
Market Cap: $854.17 million
Optionable: Optionable
Beta: 1.57

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Key Executives

Mr. Michael Dennis Garcia (Age 59)
CEO & Director
Comp: $1.04M
Mr. Rajat Marwah (Age 50)
Chief Financial Officer
Comp: $548.99k
Mr. John Ralph Naccarato (Age 57)
VP of Strategy & Chief Legal Officer
Comp: $539.13k
Michael Moraca
Treasurer & Investor Relations Officer
Ms. Brenda Stenta
Manager of Communications & Branding
Mr. Rory Brandow (Age 64)
Vice President of Sales
Ms. Danielle Baker
Chief Human Resource Officer
Mr. Mike Panzeri
Senior Vice President of Production

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

ASTL Stock Analysis - Frequently Asked Questions

Should I buy or sell Algoma Steel Group stock right now?: 1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Algoma Steel Group in the last twelve months. There are currently 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "buy" ASTL shares.
View ASTL analyst ratings or view top-rated stocks.
What is Algoma Steel Group's stock price target for 2024?: 1 brokerages have issued 12 month price targets for Algoma Steel Group's shares. Their ASTL share price targets range from $17.00 to $17.00. On average, they predict the company's stock price to reach $17.00 in the next twelve months. This suggests a possible upside of 107.1% from the stock's current price.
View analysts price targets for ASTL or view top-rated stocks among Wall Street analysts.
How have ASTL shares performed in 2024?: Algoma Steel Group's stock was trading at $10.03 at the beginning of the year. Since then, ASTL stock has decreased by 18.1% and is now trading at $8.21.
View the best growth stocks for 2024 here.
When is Algoma Steel Group's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, June 19th 2024.
View our ASTL earnings forecast.
How were Algoma Steel Group's earnings last quarter?: Algoma Steel Group Inc. (NASDAQ:ASTL) released its quarterly earnings results on Thursday, August, 10th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by $0.12. The firm earned $615.87 million during the quarter, compared to analysts' expectations of $596.30 million. Algoma Steel Group had a trailing twelve-month return on equity of 3.84% and a net margin of 2.05%. During the same period in the prior year, the company posted $1.17 earnings per share.
How often does Algoma Steel Group pay dividends? What is the dividend yield for Algoma Steel Group?: Algoma Steel Group announced a quarterly dividend on Tuesday, February 6th. Stockholders of record on Thursday, February 29th will be paid a dividend of $0.05 per share on Friday, March 29th. This represents a $0.20 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, February 28th.
Read our dividend analysis for ASTL.

Is Algoma Steel Group a good dividend stock?: Algoma Steel Group (NASDAQ:ASTL) pays an annual dividend of $0.20 per share and currently has a dividend yield of 2.44%. The dividend payout ratio is 200.00%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ASTL will have a dividend payout ratio of 25.64% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ASTL.
What ETF holds Algoma Steel Group's stock ?: VanEck Steel ETF holds 116,918 shares of ASTL stock, representing 0.70% of its portfolio.
Who are Algoma Steel Group's major shareholders?: Algoma Steel Group's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Donald Smith & CO. Inc. (9.25%), TCW Group Inc. (2.34%), Sumitomo Mitsui DS Asset Management Company Ltd (1.86%), Intact Investment Management Inc. (1.06%), Russell Investments Group Ltd. (0.24%) and Swiss National Bank (0.18%).
How do I buy shares of Algoma Steel Group?: Shares of ASTL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:ASTL) was last updated on 2/12/2024 by MarketBeat.com Staff

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