Western Forest Products Inc (WEF) Stock Rating Lowered by CIBC
Western Forest Products Inc (TSE:WEF) was downgraded by CIBC from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday.
Other analysts have also issued research reports about the company. Raymond James Financial Inc. reduced their target price on Western Forest Products from C$2.50 to C$2.25 in a research note on Thursday, July 7th. TD Securities restated a “buy” rating and set a C$2.50 price target on shares of Western Forest Products in a research note on Friday, August 5th. Finally, Scotiabank restated an “outperform” rating and set a C$2.50 price target on shares of Western Forest Products in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Western Forest Products presently has a consensus rating of “Buy” and an average target price of C$2.59.
Shares of Western Forest Products (TSE:WEF) traded down 3.81% during midday trading on Wednesday, reaching $2.02. 1,545,647 shares of the company’s stock traded hands. Western Forest Products has a one year low of $1.77 and a one year high of $2.40. The stock’s 50-day moving average price is $2.12 and its 200 day moving average price is $2.16. The firm has a market capitalization of $798.80 million and a PE ratio of 12.62.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 16th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Tuesday, August 30th.
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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