Western Forest Products (TSE:WEF) Shares Cross Below 200 Day Moving Average of $1.77

Western Forest Products Inc. (TSE:WEFGet Rating) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$1.77 and traded as low as C$1.51. Western Forest Products shares last traded at C$1.52, with a volume of 388,469 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on WEF shares. CIBC dropped their price target on Western Forest Products from C$2.50 to C$1.75 in a research note on Friday, July 8th. TD Securities upgraded Western Forest Products from a “hold” rating to a “buy” rating and increased their price target for the company from C$1.75 to C$1.85 in a research note on Friday, August 5th.

Western Forest Products Stock Performance

The stock has a 50 day moving average of C$1.53 and a 200 day moving average of C$1.77. The company has a market capitalization of C$494.78 million and a price-to-earnings ratio of 3.45. The company has a quick ratio of 0.95, a current ratio of 2.74 and a debt-to-equity ratio of 2.70.

Western Forest Products (TSE:WEFGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported C$0.12 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.05). The business had revenue of C$437.40 million for the quarter. As a group, analysts predict that Western Forest Products Inc. will post 0.3 EPS for the current year.

Western Forest Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 16th will be given a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, August 25th. Western Forest Products’s dividend payout ratio is presently 9.66%.

Western Forest Products Company Profile

(Get Rating)

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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