National Bank Financial Equities Analysts Lift Earnings Estimates for Hardwoods Distribution Inc. (TSE:HDI)

Hardwoods Distribution Inc. (TSE:HDI – Get Rating) – Stock analysts at National Bank Financial increased their FY2022 earnings estimates for Hardwoods Distribution in a research report issued on Thursday, April 28th. National Bank Financial analyst Z. Evershed now forecasts that the company will post earnings per share of $5.89 for the year, up from their previous forecast of $5.84. National Bank Financial also issued estimates for Hardwoods Distribution’s FY2023 earnings at $5.25 EPS.

Hardwoods Distribution (TSE:HDI – Get Rating) last announced its quarterly earnings results on Monday, March 14th. The company reported C$1.97 EPS for the quarter, topping the consensus estimate of C$1.71 by C$0.26. The company had revenue of C$649.73 million during the quarter, compared to analysts’ expectations of C$604.14 million.

HDI has been the topic of several other research reports. National Bankshares boosted their price target on shares of Hardwoods Distribution from C$79.00 to C$79.50 and gave the stock an “outperform” rating in a research note on Tuesday, March 15th. CIBC reduced their target price on shares of Hardwoods Distribution from C$61.00 to C$50.00 in a report on Thursday, April 21st. Finally, Canaccord Genuity Group boosted their target price on shares of Hardwoods Distribution from C$74.00 to C$76.00 and gave the stock a “buy” rating in a report on Wednesday, February 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$62.57.

Shares of HDI stock opened at C$32.50 on Monday. The stock has a market cap of C$770.22 million and a P/E ratio of 5.32. Hardwoods Distribution has a 52 week low of C$28.18 and a 52 week high of C$49.58. The company has a quick ratio of 0.59, a current ratio of 2.29 and a debt-to-equity ratio of 135.96. The company’s fifty day simple moving average is C$37.75 and its two-hundred day simple moving average is C$41.00.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Friday, April 29th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, April 18th. This represents a $0.48 annualized dividend and a yield of 1.48%. Hardwoods Distribution’s payout ratio is 5.25%.

About Hardwoods Distribution (Get Rating)

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, solid surface products, and decorative laminates.

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