Acadian Timber Corp. (TSE:ADN – Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$17.43 and traded as high as C$17.46. Acadian Timber shares last traded at C$17.44, with a volume of 7,786 shares trading hands.
Analyst Upgrades and Downgrades
Separately, CIBC dropped their target price on shares of Acadian Timber from C$22.00 to C$21.00 and set an “outperform” rating for the company in a report on Thursday, August 1st.
Check Out Our Latest Research Report on Acadian Timber
Acadian Timber Price Performance
Acadian Timber (TSE:ADN – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported C$0.46 earnings per share for the quarter. Acadian Timber had a return on equity of 10.06% and a net margin of 26.53%. The firm had revenue of C$41.19 million during the quarter. On average, sell-side analysts predict that Acadian Timber Corp. will post 1.0074243 earnings per share for the current fiscal year.
Acadian Timber Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 6.65%. The ex-dividend date is Friday, September 27th. Acadian Timber’s dividend payout ratio (DPR) is 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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