Algoma Steel Group (NASDAQ:ASTL) Announces Quarterly Earnings Results

Algoma Steel Group (NASDAQ:ASTL) announced its quarterly earnings data on Wednesday. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.35), reports. The company had revenue of $175.15 million during the quarter, compared to analysts’ expectations of $161.15 million. Algoma Steel Group had a negative net margin of 71.60% and a negative return on equity of 110.49%.

Algoma Steel Group Price Performance

ASTL traded up $0.10 on Thursday, reaching $5.04. The company had a trading volume of 1,138,865 shares, compared to its average volume of 1,229,187. The company has a fifty day moving average of $4.34 and a 200-day moving average of $4.43. The company has a current ratio of 2.49, a quick ratio of 1.35 and a debt-to-equity ratio of 2.85. The company has a market capitalization of $533.06 million, a P/E ratio of -0.69 and a beta of 1.65. Algoma Steel Group has a one year low of $3.16 and a one year high of $5.90.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ASTL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Algoma Steel Group in a report on Monday, September 21st. Royal Bank Of Canada restated a “sector perform” rating on shares of Algoma Steel Group in a research report on Monday, September 28th. Finally, Wall Street Zen downgraded shares of Algoma Steel Group from a “sell” rating to a “strong sell” rating in a report on Saturday, September 26th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Algoma Steel Group Company Profile

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.