Western Forest Products (TSE:WEF) Stock Rating Reaffirmed by Raymond James

Raymond James reissued their outperform rating on shares of Western Forest Products (TSE:WEF) in a report released on Tuesday, BayStreet.CA reports. The firm currently has a C$1.50 target price on the stock.

Separately, Scotiabank cut their price objective on Western Forest Products from C$1.75 to C$1.50 in a research report on Wednesday, December 18th.

WEF opened at C$1.36 on Tuesday. Western Forest Products has a one year low of C$1.05 and a one year high of C$2.02. The stock has a market capitalization of $506.52 million and a PE ratio of -42.50. The business’s 50 day moving average price is C$1.19 and its 200 day moving average price is C$1.23. The company has a debt-to-equity ratio of 25.88, a quick ratio of 0.86 and a current ratio of 3.85.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 28th will be issued a $0.023 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Western Forest Products’s previous quarterly dividend of $0.02. This represents a $0.09 dividend on an annualized basis and a yield of 6.76%. Western Forest Products’s dividend payout ratio (DPR) is -281.25%.

About Western Forest Products

Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.

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