Western Forest Products Inc. (TSE:WEF – Get Rating) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.01 and traded as low as C$1.51. Western Forest Products shares last traded at C$1.55, with a volume of 276,301 shares.
A number of brokerages recently issued reports 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 report on Thursday, May 5th. CIBC reduced their price objective on shares of Western Forest Products from C$2.50 to C$2.25 in a research report on Thursday, April 21st.
The company has a current ratio of 2.51, a quick ratio of 0.92 and a debt-to-equity ratio of 3.02. The firm’s 50-day moving average is C$1.91 and its two-hundred day moving average is C$2.01. The stock has a market cap of C$504.54 million and a price-to-earnings ratio of 2.91.
The business also recently announced a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, June 17th were issued a dividend of $0.0125 per share. This is a boost from Western Forest Products’s previous quarterly dividend of $0.01. This represents a $0.05 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, May 26th. Western Forest Products’s payout ratio is currently 7.52%.
Western Forest Products Company Profile (TSE:WEF)
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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