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

Raymond James reiterated their outperform rating on shares of Western Forest Products (TSE:WEF) in a research report sent to investors on Tuesday morning, BayStreet.CA reports. Raymond James currently has a C$1.50 price objective on the stock.

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

Shares of WEF stock opened at C$1.36 on Tuesday. The company’s fifty day simple moving average is C$1.19 and its 200-day simple moving average is C$1.23. Western Forest Products has a 52 week low of C$1.05 and a 52 week high of C$2.02. The company has a current ratio of 3.85, a quick ratio of 0.86 and a debt-to-equity ratio of 25.88. The company has a market cap of $506.52 million and a PE ratio of -42.50.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 28th will be paid a dividend of $0.023 per share. This is an increase from Western Forest Products’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.09 annualized dividend and a yield of 6.76%. Western Forest Products’s payout ratio is -281.25%.

Western Forest Products Company Profile

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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