Acadian Timber Corp. (TSE:ADN) Declares Quarterly Dividend of $0.29

Acadian Timber Corp. (TSE:ADN) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Sunday, June 30th will be given a dividend of 0.29 per share on Monday, July 15th. This represents a $1.16 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Friday, June 28th.

Acadian Timber Price Performance

Acadian Timber stock opened at C$18.06 on Friday. Acadian Timber has a 12-month low of C$15.50 and a 12-month high of C$18.69. The stock has a market capitalization of C$311.54 million, a P/E ratio of 10.50, a P/E/G ratio of -4.84 and a beta of 0.87. The firm’s 50-day moving average is C$17.32 and its two-hundred day moving average is C$16.84. The company has a debt-to-equity ratio of 33.08, a current ratio of 1.96 and a quick ratio of 1.04.

Acadian Timber (TSE:ADN) last announced its quarterly earnings data on Wednesday, February 7th. The company reported C$0.08 earnings per share for the quarter, missing the consensus estimate of C$0.16 by C($0.08). The company had revenue of C$23.82 million for the quarter. Acadian Timber had a return on equity of 9.45% and a net margin of 31.49%. Equities analysts predict that Acadian Timber will post 1.4394904 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. CIBC raised shares of Acadian Timber from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$17.00 to C$20.00 in a research report on Thursday, April 11th. Raymond James upgraded shares of Acadian Timber from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$17.00 to C$18.50 in a research note on Thursday, February 8th. Finally, Royal Bank of Canada lifted their price target on Acadian Timber from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th.

Acadian Timber Company Profile

Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates in two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages freehold timberlands in New Brunswick and Maine; and provides timber services relating to Crown licensed timberlands in New Brunswick.