Streetbeat News

ASTL

Algoma Steel Group Inc.

Industry

Steel

Algoma Steel Group Inc. produces and sells steel products primarily in North America. It 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.

Open

10.84

Mkt cap

1.3B

Volume

2.5M

High

12.14

P/E Ratio

-75.06

52-wk high

12.14

Low

10.84

Div yield

0.02

52-wk low

6.67

Earnings reports for various companies are scheduled for February 6, 2024, with projections ranging from significant profits to losses across diverse sectors. Notable mentions include BP, UBS, Frontier Group Holdings, and Spotify Technology, among others, indicating a broad spectrum of financial health and market expectations.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 10:42 am

Algoma Steel Gr (NASDAQ:ASTL) is scheduled to release its quarterly earnings report on February 6, 2024, with analysts expecting an EPS of $-0.22. Despite a history of mixed earnings performance, with the last quarter missing estimates by $0.11 but still resulting in a 2.78% share price increase the following day, investors are hopeful for positive guidance. Over the last year, ASTL shares have decreased by 1.9%, indicating a bearish sentiment among long-term shareholders.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 7:02 pm

Algoma Steel Gr (NASDAQ:ASTL) is scheduled to release its quarterly earnings report on February 6, 2024, with analysts expecting an EPS of $-0.22. The company's past earnings performance shows mixed results, with the last quarter missing EPS estimates by $0.11 but resulting in a 2.78% share price increase the following day. Over the last 52 weeks, ASTL shares have decreased by 1.9%, indicating potential concern among long-term shareholders ahead of the earnings announcement.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 7:02 pm

Coherus BioSciences, Inc. (NASDAQ:CHRS) shares surged 22.1% in pre-market trading following the announcement of a $170 million all-cash deal to divest its ophthalmology franchise to Sandoz. Other stocks experienced significant movement in pre-market trading, with notable gainers including Northann Corp. (NYSE:NCL), HNR Acquisition Corp (NYSE:HNRA), and Porch Group, Inc. (NASDAQ:PRCH). Conversely, companies like B. Riley Financial, Inc. (NASDAQ:RILY) and Agrify Corporation (NASDAQ:AGFY) saw their shares decline. Archer-Daniels-Midland Company (NYSE:ADM) also dropped after announcing an interim CFO and adjusted EPS expectations.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 1:21 pm

In Monday's pre-market session, Archer-Daniels-Midland Company (ADM) shares fell 9.6% after announcing Ismael Roig as Interim CFO and an adjusted EPS forecast of $6.90 for FY Dec. 2023. B. Riley Financial (RILY) shares dropped 17.5% in response to a Bloomberg article. Other stocks experiencing pre-market losses include HUYA Inc. (HUYA), Algoma Steel Group Inc. (ASTL), XPeng Inc. (XPEV), Zai Lab Limited (ZLAB), Canaan Inc. (CAN), Corcept Therapeutics Incorporated (CORT), Dada Nexus Limited (DADA), and Baidu, Inc. (BIDU).

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 10:07 am

Algoma Steel reported that its operations during Q3 ran as expected. However, the company faced soft demand and pricing issues due to a UAW strike in the previous quarter, which continued to impact results through October. The company expects total steel shipments for the fiscal 2024 third quarter to be approximately 515,000 tons, with Adjusted EBITDA ranging from a loss of $10 million to breakeven.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 10:33 pm

Algoma Steel Gr (NASDAQ:ASTL) reported Q2 2024 earnings of $0.18 per share, missing the analyst consensus estimate of $0.29 by 37.93%. This is a 35.71% decrease from the same period last year. The company also reported quarterly sales of $546.10 million, missing the analyst consensus estimate of $692.92 million by 21.19%. However, this is an 18.88% increase from the same period last year.

Portfolio Pulse from vinayak@benzinga.com

November 02, 2023 | 9:35 pm

Algoma Steel has extended its iron ore contract with U.S. Steel for two years to support its transition to electric arc steelmaking. The contract also includes an option for a third-year extension at Algoma's discretion. The terms of the contract were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 9:32 pm

Algoma Steel has announced that its operations have run in line with expectations in Q2. The company is closely monitoring the evolving UAW Union's work stoppages and their impact on steel markets. It expects total steel shipments for the fiscal 2024 second quarter to be in the range of 540,000 to 550,000 tons.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 9:36 pm

Algoma Steel Group (NASDAQ:ASTL) has announced a quarterly dividend of 5 cents per share. The stock will go ex-dividend on Thursday, meaning it will trade lower to reflect the payout. Shareholders owning ASTL as of the end of Wednesday's session are eligible for the dividend, which will be paid out on September 29, 2023.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:45 pm

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