Acadian Timber (TSE:ADN) Lifted to “Outperform” at Raymond James

Raymond James upgraded shares of Acadian Timber (TSE:ADNFree Report) from a market perform rating to an outperform rating in a research note published on Thursday, BayStreet.CA reports. Raymond James currently has C$18.50 price objective on the stock, up from their previous price objective of C$17.00. Raymond James also issued estimates for Acadian Timber’s Q4 2023 earnings at $0.16 EPS and FY2023 earnings at $1.21 EPS.

Acadian Timber Price Performance

Shares of Acadian Timber stock opened at C$17.04 on Thursday. The company has a debt-to-equity ratio of 34.74, a current ratio of 1.87 and a quick ratio of 1.04. The company has a market cap of C$292.75 million, a PE ratio of 7.25, a price-to-earnings-growth ratio of -4.84 and a beta of 0.92. The firm has a fifty day moving average price of C$16.91 and a two-hundred day moving average price of C$16.97. Acadian Timber has a fifty-two week low of C$15.40 and a fifty-two week high of C$18.69.

Acadian Timber (TSE:ADNGet Free Report) last released its earnings results 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). Acadian Timber had a net margin of 42.65% and a return on equity of 13.16%. The company had revenue of C$23.82 million during the quarter. Analysts expect that Acadian Timber will post 0.7701095 EPS for the current year.

Acadian Timber Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Sunday, March 31st will be paid a $0.29 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.81%. Acadian Timber’s payout ratio is 49.36%.

About Acadian Timber

(Get Free Report)

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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