The stock of Algoma Steel Group Inc. (NASDAQ:ASTL) increased by $0.82 on Monday to finish at $7.77, up 11.80 percent. The last five days have seen an average of 1,399,460 shares of common stock traded. 13 times new highs were reached in the current year, with a gain of $1.43. The average number of shares traded over the last 20 days was 676,000, while the average volume over the last 50 days totaled 782,960.
ASTL stock appreciated 5.57% since last month. On 08/10/23, the company’s shares reached a one-month low of $6.69. The stock touched a high of $9.94 on 03/03/23, after rallying from a low of $5.64 in 52 weeks. The price of ASTL stock has risen by 22.56% or $1.43 this year, reaching a new high 13 times. Still, the stock price is down -21.85% from the 52-week high.
Valuation Metrics
Algoma Steel Group Inc. (ASTL) has a trailing price-to-earnings (P/E) ratio of 7.09. Beta for the stock is 1.49. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.38, the price-to-book (PB) ratio of 0.78.
Company paid $0.05 per share in dividends, remained unchanged from $0.05 last year. A $0.0105 dividend increase was reported on Thursday June 16 2022.
Financial Health
For the three months ended June 29, Algoma Steel Group Inc.’s quick ratio was 1.90, while its current ratio was 4.00, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.08, and the total debt to equity ratio is 0.08. As far as profitability goes, gross margin for the trailing twelve months is 14.30% percent. Algoma Steel Group Inc.’s EBITDA margin for the year ended June 29 was 13.89%, whereas its operating margin stood at 10.50% for the same period. Based on annual data, it had gross profit of $294.88 million and revenue of $2.1 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ASTL’s return on assets (ROA) during the last 12 months has been 11.10%. There was a 13.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 20.40%.
Earnings Surprise
According to Algoma Steel Group Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.92 billion, while revenues rose by 100.0% to $0.0. It was predicted that Algoma Steel Group Inc.’s quarterly earnings would be $0.85, but it ended up being $0.98, beating the consensus by -13.30%. EBITDA was $139.54 million for the quarter. At the end of Algoma Steel Group Inc.’s most recent quarter ended June 29, its liabilities totaled 809.92 million, while its total debt was $129.7 million.
Technical Picture
Here’s a quick look at Algoma Steel Group Inc.’s (ASTL) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 70.30%, suggesting the stock is Overbought, with a 66.73% historical volatility rate.
The stochastic %K and %D were 44.43% and 24.85% respectively, while the average true range (ATR) was 0.33. Based on the 14-day stochastic reading of 95.15%, the RSI (14) reading is 63.72%. On the 9-day MACD Oscillator, the stock is at 0.14, and the 14-day reading is at 0.01.
Analyst Ratings
In its most recent analyst report, Stifel raised its rating on Algoma Steel Group Inc. (NASDAQ: ASTL) to a Buy. Prior to this, analysts firm rated the stock as a Hold. Analysts have assigned Algoma Steel Group Inc. (ASTL) an Buy rating. ASTL is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 3 others recommend it as a buy.
What is ASTL’s price target for the next 12 months?
The current consensus forecast for the stock is between $11.00 and $14.00, with a median target price of $12.75. In analyzing these forecasts, the average price target given by analysts for Algoma Steel Group Inc. (ASTL) is $12.63.
