Western Forest Products Inc (WEF) Receives Average Rating of “Buy” from Brokerages
Western Forest Products Inc (TSE:WEF) has received an average recommendation of “Buy” from the six brokerages that are presently covering the company. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$2.61.
Several research analysts have recently issued reports on the stock. Scotiabank reiterated an “outperform” rating and set a C$2.50 price target on shares of Western Forest Products in a report on Thursday, August 4th. TD Securities reiterated a “buy” rating and set a C$2.50 price target on shares of Western Forest Products in a report on Friday, August 5th. CIBC downgraded shares of Western Forest Products from an “outperform” rating to a “sector perform” rating in a report on Wednesday. Finally, Raymond James Financial Inc. lowered their price target on shares of Western Forest Products from C$2.50 to C$2.25 in a report on Thursday, July 7th.
Western Forest Products (TSE:WEF) traded down 0.49% during mid-day trading on Thursday, hitting $2.02. The company’s stock had a trading volume of 628,628 shares. The firm has a market cap of $798.80 million and a price-to-earnings ratio of 12.62. The firm has a 50 day moving average of $2.11 and a 200-day moving average of $2.15. Western Forest Products has a 52-week low of $1.77 and a 52-week high of $2.40.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 16th were paid a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.08 annualized dividend and a dividend yield of 3.94%.
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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