Algoma Steel Group (NASDAQ:ASTL – Get Free Report) posted its earnings results on Wednesday. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.35), reports. Algoma Steel Group had a negative net margin of 71.60% and a negative return on equity of 110.49%. The business had revenue of $175.15 million for the quarter, compared to analysts’ expectations of $161.15 million.
Algoma Steel Group Stock Up 2.3%
ASTL traded up $0.12 during trading on Thursday, hitting $5.05. The stock had a trading volume of 1,085,516 shares, compared to its average volume of 1,229,053. The stock has a 50 day simple moving average of $4.34 and a two-hundred day simple moving average of $4.43. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.35 and a current ratio of 2.49. Algoma Steel Group has a twelve month low of $3.16 and a twelve month high of $5.90. The company has a market capitalization of $534.12 million, a PE ratio of -0.69 and a beta of 1.65.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Royal Bank Of Canada reissued a “sector perform” rating on shares of Algoma Steel Group in a report on Monday, September 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Algoma Steel Group in a research report on Monday, September 21st. Finally, Wall Street Zen downgraded Algoma Steel Group from a “sell” rating to a “strong sell” rating in a report on Saturday, September 26th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Algoma Steel Group has a consensus rating of “Reduce”.
View Our Latest Stock Report on Algoma Steel Group
About Algoma Steel Group
Algoma Steel Group Inc is an integrated steel producer headquartered in Sault Ste. Marie, Ontario, Canada. Through its steelmaking and finishing operations, the company produces a range of steel products for customers primarily in Canada and the United States.
Algoma’s product portfolio includes hot- and cold-rolled steel sheet, galvanized steel and steel plate. Its products are used in sectors such as automotive manufacturing, construction, energy, transportation, industrial equipment and general manufacturing.
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