Western Forest Products (TSE:WEF) Stock Price Crosses Below 200-Day Moving Average of $1.17

Western Forest Products Inc. (TSE:WEF – Get Rating)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$1.17 and traded as low as C$1.06. Western Forest Products shares last traded at C$1.06, with a volume of 141,231 shares.

Analyst Upgrades and Downgrades

WEF has been the subject of several recent research reports. TD Securities raised their price target on Western Forest Products from C$1.25 to C$1.35 and gave the stock a “hold” rating in a research report on Tuesday, February 21st. Raymond James lowered their price objective on Western Forest Products from C$1.70 to C$1.35 in a research report on Thursday, May 4th. Finally, Scotiabank lowered their price objective on Western Forest Products from C$1.75 to C$1.50 in a research report on Thursday, May 4th.

Western Forest Products Stock Performance

The firm has a market cap of C$335.76 million, a PE ratio of 53.00, a P/E/G ratio of 0.32 and a beta of 1.97. The company has a debt-to-equity ratio of 3.56, a current ratio of 2.70 and a quick ratio of 0.73. The stock has a 50-day moving average price of C$1.09 and a 200 day moving average price of C$1.17.

Western Forest Products Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 26th will be issued a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Thursday, May 25th. Western Forest Products’s payout ratio is currently 250.00%.

About Western Forest Products

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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.