Western Forest Products Inc (WEF) Stock Rating Lowered by CIBC
Western Forest Products Inc (TSE:WEF) was downgraded by equities researchers at CIBC from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Wednesday, StockTargetPrices.com reports.
Several other brokerages have also commented on WEF. TD Securities reaffirmed a “buy” rating and issued a C$2.50 price target on shares of Western Forest Products in a research note on Friday, August 5th. Scotiabank reaffirmed an “outperform” rating and issued a C$2.50 price target on shares of Western Forest Products in a research note on Thursday, August 4th. Finally, Raymond James Financial Inc. cut their price objective on Western Forest Products from C$2.50 to C$2.25 in a report on Thursday, July 7th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock 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 midday trading on Wednesday, reaching $2.02. The company had a trading volume of 1,545,647 shares. The company has a market capitalization of $798.80 million and a P/E ratio of 12.62. The company’s 50 day moving average price is $2.12 and its 200-day moving average price is $2.16. Western Forest Products has a 52 week low of $1.77 and a 52 week high of $2.40.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 16th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.08 annualized dividend and a yield of 3.81%.
Western Forest Products Company Profile
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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