Shares of Acadian Timber Corp. (TSE:ADN – Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$17.46 and traded as high as C$18.03. Acadian Timber shares last traded at C$18.03, with a volume of 3,400 shares trading hands.
Analysts Set New Price Targets
Separately, CIBC cut their price target on 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.
View Our Latest Report on Acadian Timber
Acadian Timber Trading Up 0.6 %
Acadian Timber (TSE:ADN – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported C$0.46 earnings per share (EPS) 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. As a group, research analysts forecast that Acadian Timber Corp. will post 1.0095345 EPS for the current year.
Acadian Timber Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.43%. Acadian Timber’s dividend payout ratio is currently 62.37%.
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.
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