Western Forest Products (TSE:WEF) Stock Rating Upgraded by TD Securities

TD Securities upgraded shares of Western Forest Products (TSE:WEFGet Rating) from a hold rating to a buy rating in a research report sent to investors on Friday morning, BayStreet.CA reports. They currently have C$1.85 price target on the stock, up from their prior price target of C$1.75.

Several other equities research analysts have also recently commented on WEF. Raymond James set a C$3.25 price target on shares of Western Forest Products and gave the stock a strong-buy rating in a research report on Thursday, May 5th. CIBC lowered their price target on shares of Western Forest Products from C$2.50 to C$1.75 in a research report on Friday, July 8th.

Western Forest Products Trading Up 3.4 %

Shares of TSE WEF opened at C$1.51 on Friday. Western Forest Products has a 1-year low of C$1.38 and a 1-year high of C$2.40. The company has a market cap of C$491.52 million and a PE ratio of 2.85. The company has a current ratio of 2.74, a quick ratio of 0.95 and a debt-to-equity ratio of 2.70. The company has a 50-day moving average of C$1.56 and a two-hundred day moving average of C$1.87.

Western Forest Products (TSE:WEFGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported C$0.11 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.03). The business had revenue of C$359.60 million for the quarter. As a group, equities analysts expect that Western Forest Products will post 0.29 earnings per share for the current fiscal year.

Western Forest Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 16th will be issued a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Thursday, August 25th. Western Forest Products’s dividend payout ratio is currently 9.43%.

Western Forest Products Company Profile

(Get Rating)

Western Forest Products Inc engages in the timber harvesting, sawmilling logs into specialty lumber, value-added lumber remanufacturing, and lumber purchasing and wholesaling businesses. Its products have applications in outdoor living; exterior appearance; interior living; and structural applications.

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