Western Forest Products Inc (TSE:WEF) announced a quarterly dividend on Wednesday, February 12th, Zacks reports. Investors of record on Friday, February 28th will be given a dividend of 0.023 per share on Friday, March 13th. This represents a $0.09 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Thursday, February 27th. This is a positive change from Western Forest Products’s previous quarterly dividend of $0.02.
WEF stock opened at C$1.35 on Friday. The company has a debt-to-equity ratio of 25.88, a quick ratio of 0.86 and a current ratio of 3.85. The stock has a market cap of $427.73 million and a P/E ratio of -42.19. The firm has a 50 day simple moving average of C$1.19 and a 200 day simple moving average of C$1.23. Western Forest Products has a 52 week low of C$1.05 and a 52 week high of C$2.02.
Several analysts recently commented on WEF shares. Raymond James restated an “outperform” rating and set a C$1.50 price target on shares of Western Forest Products in a report on Tuesday. Royal Bank of Canada cut shares of Western Forest Products from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$1.00 to C$1.25 in a research note on Thursday. Scotiabank reduced their target price on shares of Western Forest Products from C$1.75 to C$1.50 in a research note on Wednesday, December 18th. Finally, TD Securities lifted their target price on shares of Western Forest Products from C$1.25 to C$1.50 and gave the company a “hold” rating in a research note on Thursday.
Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.
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