Western Forest Products (TSE:WEF) Lowered to Sector Perform at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Western Forest Products (TSE:WEF) from an outperform rating to a sector perform rating in a research note released on Thursday, BayStreet.CA reports. They currently have C$1.25 price target on the stock, up from their previous price target of C$1.00.

Several other equities research analysts have also commented on the stock. Scotiabank cut their price target on shares of Western Forest Products from C$1.75 to C$1.50 in a report on Wednesday, December 18th. Raymond James reissued an outperform rating and issued a C$1.50 price target on shares of Western Forest Products in a report on Tuesday. Finally, TD Securities boosted their price target on shares of Western Forest Products from C$1.25 to C$1.50 and gave the stock a hold rating in a report on Thursday.

TSE WEF traded up C$0.01 on Thursday, hitting C$1.36. The company had a trading volume of 1,090,202 shares, compared to its average volume of 754,604. The company has a market capitalization of $506.52 million and a PE ratio of -42.50. The company’s fifty day moving average price is C$1.19 and its 200-day moving average price is C$1.23. The company has a debt-to-equity ratio of 25.88, a current ratio of 3.85 and a quick ratio of 0.86. Western Forest Products has a 12-month low of C$1.05 and a 12-month high of C$2.02.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 28th will be issued a $0.023 dividend. This represents a $0.09 annualized dividend and a yield of 6.76%. The ex-dividend date is Thursday, February 27th. This is a positive change from Western Forest Products’s previous quarterly dividend of $0.02. Western Forest Products’s payout ratio is presently -281.25%.

Western Forest Products Company Profile

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.

Recommended Story: Sell-Side Analysts

Receive News & Ratings for Western Forest Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.