CIBC Lowers Acadian Timber (TSE:ADN) to Underperform

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CIBC cut shares of Acadian Timber (TSE:ADN) from a neutral rating to an underperform rating in a report published on Tuesday, Analyst Price Targets reports. They currently have C$17.00 price objective on the stock.

A number of other analysts also recently weighed in on ADN. Raymond James upped their target price on Acadian Timber from C$18.00 to C$21.00 and gave the company an outperform rating in a research report on Wednesday, April 7th. Royal Bank of Canada upped their price objective on Acadian Timber from C$16.00 to C$17.00 and gave the stock a sector perform rating in a research report on Friday, February 12th. Finally, Scotiabank upped their price objective on Acadian Timber from C$16.50 to C$17.50 in a research report on Friday, February 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of C$16.75.

TSE:ADN opened at C$19.96 on Tuesday. The stock has a fifty day moving average price of C$19.02 and a 200-day moving average price of C$16.81. The company has a market cap of C$333.07 million and a price-to-earnings ratio of 15.09. The company has a debt-to-equity ratio of 34.51, a quick ratio of 1.37 and a current ratio of 1.44. Acadian Timber has a fifty-two week low of C$12.00 and a fifty-two week high of C$20.08.

Acadian Timber (TSE:ADN) last released its earnings results on Wednesday, February 10th. The company reported C$0.92 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.21 by C$0.71. The company had revenue of C$24.93 million for the quarter. Research analysts predict that Acadian Timber will post 1.0637587 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Thursday, April 15th were issued a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $1.16 dividend on an annualized basis and a yield of 5.81%. Acadian Timber’s payout ratio is presently 87.68%.

Acadian Timber Company Profile

Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates through two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides timber services relating to approximately 1.3 million acres of Crown licensed timberlands in New Brunswick.

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