Acadian Timber Corp. Declares Quarterly Dividend of $0.29 (TSE:ADN)

Acadian Timber Corp. (TSE:ADN) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Sunday, June 30th will be given a dividend of 0.29 per share on Monday, July 15th. This represents a $1.16 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Friday, June 28th.

Acadian Timber Stock Up 0.1 %

Shares of TSE:ADN traded up C$0.01 during trading on Friday, hitting C$18.07. The stock had a trading volume of 783 shares, compared to its average volume of 6,072. The company has a quick ratio of 1.04, a current ratio of 1.96 and a debt-to-equity ratio of 33.08. Acadian Timber has a 12 month low of C$15.50 and a 12 month high of C$18.69. The company has a market capitalization of C$311.71 million, a PE ratio of 10.50, a PEG ratio of -4.84 and a beta of 0.87. The firm’s fifty day moving average is C$17.32 and its 200 day moving average is C$16.84.

Acadian Timber (TSE:ADN) last issued its quarterly earnings results on Wednesday, February 7th. The company reported C$0.08 EPS for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.08). The company had revenue of C$23.82 million during the quarter. Acadian Timber had a return on equity of 9.45% and a net margin of 31.49%. Analysts anticipate that Acadian Timber will post 1.4394904 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on ADN. Royal Bank of Canada increased their target price on Acadian Timber from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. CIBC upgraded Acadian Timber from a “neutral” rating to an “outperform” rating and raised their price target for the stock from C$17.00 to C$20.00 in a research note on Thursday, April 11th. Finally, Raymond James upgraded Acadian Timber from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$17.00 to C$18.50 in a research note on Thursday, February 8th.

About Acadian Timber

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