Western Forest Products (TSE:WEF) Shares Pass Below 200-Day Moving Average of $2.01

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.

Western Forest Products (TSE:WEF – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported C$0.11 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.03). The company had revenue of C$359.60 million for the quarter. On average, analysts predict that Western Forest Products Inc. will post 0.34 earnings per share for the current year.

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.

See Also

• What To Buy Before The Q2 Earnings Season Kicks Off 
• Target Is The Most Downgraded Stock You Can Buy Now 
• Ride Out The Recession With These Dividend Kings 
• MarketBeat: Week in Review 6/13 – 6/17
• eBay’s Long Term Fundamentals Are Intact If You Can Stomach Short Term Volatility

Want More Great Investing Ideas?