Western Forest Products Inc (WEF) Stock Rating Lowered by CIBC
Western Forest Products Inc (TSE:WEF) was downgraded by CIBC from an “outperform” rating to a “sector perform” rating in a report released on Wednesday.
A number of other analysts have also recently weighed in on the stock. TD Securities reissued a “buy” rating and set a C$2.50 price objective on shares of Western Forest Products in a report on Friday, August 5th. Scotiabank restated an “outperform” rating and set a C$2.50 target price on shares of Western Forest Products in a research report on Thursday, August 4th. Finally, Raymond James Financial Inc. lowered their target price on shares of Western Forest Products from C$2.50 to C$2.25 in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$2.59.
Shares of Western Forest Products (TSE:WEF) traded down 3.81% during mid-day trading on Wednesday, hitting $2.02. The stock had a trading volume of 1,930,851 shares. Western Forest Products has a one year low of $1.77 and a one year high of $2.40. The firm has a market cap of $798.80 million and a price-to-earnings ratio of 12.62. The company has a 50-day moving average of $2.12 and a 200 day moving average of $2.16.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 16th were given a $0.02 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.08 dividend on an annualized basis and a yield of 3.81%.
About Western Forest Products
Western Forest Products Inc (WFP) is a Canada-based softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber, wood chips and lumber remanufacturing. WFP’s lumber products are currently sold in over 25 countries worldwide.
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