Norbord Receives Average Recommendation of “Buy” from Brokerages (TSE:NBD)
Shares of Norbord (TSE:NBD) have been given an average rating of “Buy” by the eight analysts that are currently covering the stock, ARN reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$31.71.
NBD has been the subject of a number of recent research reports. Analysts at Raymond James cut their price target on shares of Norbord from C$34.00 to C$32.00 in a research note on Thursday, May 15th. They now have an “outperform” rating on the stock. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Norbord in a research note on Tuesday, May 6th. Finally, analysts at TD Securities upgraded shares of Norbord from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. They now have a C$33.00 price target on the stock, up previously from C$31.00.
Norbord (TSE:NBD) opened at 27.00 on Thursday. Norbord has a 1-year low of $25.10 and a 1-year high of $36.95. The stock has a 50-day moving average of $27.82 and a 200-day moving average of $29.91. The company has a market cap of $1.442 billion and a price-to-earnings ratio of 16.62.
Norbord (TSE:NBD) last announced its earnings results on Monday, May 5th. The company reported $0.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.01 by $0.13. Analysts expect that Norbord will post $1.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, June 21st. Investors of record on Sunday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date of this dividend is Wednesday, May 28th.
Norbord Inc is an international producer of wood-based panels with 13 plant locations in the United States, Europe and Canada.
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