Western Forest Products Inc (WEF) Receives C$2.61 Consensus Target Price from Brokerages
Western Forest Products Inc (TSE:WEF) has been given a consensus recommendation of “Buy” by the six analysts that are currently covering the stock. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$2.61.
A number of brokerages have recently weighed in on WEF. TD Securities reissued a “buy” rating and set a C$2.50 price objective 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 research report on Wednesday. Scotiabank restated an “outperform” rating and set a C$2.50 target price on shares of Western Forest Products in a research report on Thursday, August 4th. Finally, Raymond James Financial Inc. decreased their target price on shares of Western Forest Products from C$2.50 to C$2.25 in a research report on Thursday, July 7th.
Western Forest Products (TSE:WEF) opened at 2.04 on Thursday. The stock has a market cap of $806.71 million and a price-to-earnings ratio of 12.75. The stock’s 50 day moving average price is $2.11 and its 200-day moving average price is $2.15. Western Forest Products has a 12 month low of $1.77 and a 12 month high of $2.40.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 16th were given a $0.02 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.92%.
About Western Forest Products
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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