Acadian Timber Corp. (TSE:ADN – Get Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.35 and traded as high as C$17.40. Acadian Timber shares last traded at C$17.34, with a volume of 1,111 shares changing hands.
Analysts Set New Price Targets
A number of brokerages have weighed in on ADN. CIBC lowered their price target on Acadian Timber from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Royal Bank of Canada boosted their target price on Acadian Timber from C$18.00 to C$20.00 in a report on Friday, May 10th. Finally, Raymond James lifted their price objective on shares of Acadian Timber from C$18.50 to C$20.00 in a research report on Friday, May 10th.
Read Our Latest Stock Analysis on Acadian Timber
Acadian Timber Stock Performance
Acadian Timber (TSE:ADN – Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported C$0.46 earnings per share (EPS) for the quarter. Acadian Timber had a net margin of 26.53% and a return on equity of 10.06%. The company had revenue of C$41.19 million during the quarter. As a group, equities research analysts predict that Acadian Timber Corp. will post 1.0303391 earnings per share for the current fiscal year.
Acadian Timber Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.78%. Acadian Timber’s payout ratio is presently 62.37%.
About Acadian Timber
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.
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