Cormark Weighs in on Algoma Central Co.’s FY2018 Earnings (ALC)

Algoma Central Co. (TSE:ALC) – Equities researchers at Cormark upped their FY2018 earnings per share estimates for shares of Algoma Central in a research report issued to clients and investors on Monday, August 13th. Cormark analyst D. Tyerman now anticipates that the company will post earnings per share of $1.19 for the year, up from their previous estimate of $1.08. Cormark also issued estimates for Algoma Central’s Q3 2019 earnings at $0.64 EPS and Q4 2019 earnings at $0.53 EPS.

TSE ALC opened at C$14.00 on Wednesday. Algoma Central has a 52 week low of C$11.46 and a 52 week high of C$16.04.

In other news, Director John Christopher Barron sold 2,000 shares of Algoma Central stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of C$15.04, for a total value of C$30,080.00.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Tuesday, September 4th will be paid a $0.10 dividend. The ex-dividend date is Monday, August 20th. This represents a $0.40 annualized dividend and a dividend yield of 2.86%.

About Algoma Central

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers on the Great Lakes – St. Lawrence Waterway in Canada. It operates in four segments: Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, and Global Short Sea Shipping. The Domestic Dry-Bulk segment operates 13 self-unloading bulk carriers and 8 gearless bulk carrier.

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Earnings History and Estimates for Algoma Central (TSE:ALC)

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