Acadian Timber (TSE:ADN) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Acadian Timber Corp. (TSE:ADN)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.81 and traded as high as C$18.00. Acadian Timber shares last traded at C$17.90, with a volume of 4,950 shares.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada raised their target price on shares of Acadian Timber from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$18.25.

Acadian Timber Stock Performance

The company has a 50 day moving average price of C$17.36 and a 200-day moving average price of C$16.81. The company has a current ratio of 0.85, a quick ratio of 1.04 and a debt-to-equity ratio of 30.96. The company has a market cap of C$330.36 million, a P/E ratio of 6.68, a price-to-earnings-growth ratio of -4.84 and a beta of 0.38.

Acadian Timber (TSE:ADN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.19 EPS for the quarter. Acadian Timber had a return on equity of 13.97% and a net margin of 57.04%.The company had revenue of C$23.41 million during the quarter. On average, equities analysts expect that Acadian Timber Corp. will post 1.0095345 earnings per share for the current fiscal year.

Acadian Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.16 annualized dividend and a yield of 6.5%. Acadian Timber’s payout ratio is presently 43.28%.

About Acadian Timber

Acadian Timber Corp is a Canada-based supplier of primary forest products in Eastern Canada and the Northeastern United States. The company’s operating segments include NB Timberlands and Maine Timberlands. It generates maximum revenue from the NB Timberlands segment. The company’s product includes softwood and hardwood sawlogs, pulpwood and biomass by-products.