Acadian Timber (TSE:ADN) Given New C$21.00 Price Target at CIBC

Acadian Timber (TSE:ADN) had its price objective lowered by CIBC from C$22.00 to C$21.00 in a research report released on Thursday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the company. Royal Bank of Canada raised their price target on Acadian Timber from C$18.00 to C$20.00 in a report on Friday, May 10th. Raymond James raised their price objective on Acadian Timber from C$18.50 to C$20.00 in a report on Friday, May 10th.

Acadian Timber Stock Performance

TSE:ADN opened at C$18.24 on Thursday. The business’s 50-day moving average price is C$17.38 and its two-hundred day moving average price is C$17.20. Acadian Timber has a twelve month low of C$15.50 and a twelve month high of C$18.69. The stock has a market cap of C$317.19 million, a P/E ratio of 10.48, a PEG ratio of -4.84 and a beta of 0.87. The company has a quick ratio of 1.04, a current ratio of 0.44 and a debt-to-equity ratio of 36.66.

Acadian Timber (TSE:ADN) last released its quarterly earnings results on Wednesday, May 8th. The company reported C$0.35 earnings per share for the quarter. Acadian Timber had a return on equity of 9.48% and a net margin of 29.86%. The firm had revenue of C$28.81 million for the quarter. As a group, equities analysts predict that Acadian Timber will post 1.4394904 EPS for the current fiscal year.

Acadian Timber Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.36%. Acadian Timber’s dividend payout ratio is 66.67%.

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.