Western Forest Products Inc (WEF) Cut to “Neutral” at CIBC
A number of other brokerages have also recently commented on WEF. TD Securities raised their price objective on shares of Western Forest Products from C$2.75 to C$3.00 and gave the stock a buy rating in a research note on Friday, August 4th. Scotiabank raised their price objective on shares of Western Forest Products from C$2.45 to C$2.55 and gave the stock an outperform rating in a research note on Thursday, August 3rd. Finally, Raymond James Financial, Inc. raised their price objective on shares of Western Forest Products from C$2.75 to C$3.10 and gave the stock a strong-buy rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of C$2.73.
Western Forest Products (TSE:WEF) opened at 2.70 on Monday. The company has a market capitalization of $1.07 billion and a price-to-earnings ratio of 11.25. The firm has a 50 day moving average of $2.62 and a 200-day moving average of $2.32. Western Forest Products has a 52-week low of $1.79 and a 52-week high of $2.84.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.02 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.08 dividend on an annualized basis and a yield of 2.96%.
About Western Forest Products
Western Forest Products Inc is a 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 and wood chips, and lumber remanufacturing. The Company’s log and lumber products are sold throughout the world.
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