Acadian Timber (TSE:ADN) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Acadian Timber Corp. (TSE:ADN) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$17.60 and traded as high as C$17.72. Acadian Timber shares last traded at C$17.72, with a volume of 1,335 shares traded.

Analysts Set New Price Targets

Separately, CIBC reduced their target price on Acadian Timber from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st.

Acadian Timber Stock Performance

The stock has a market cap of C$309.58 million, a PE ratio of 9.56, a price-to-earnings-growth ratio of -4.84 and a beta of 0.87. The company has a quick ratio of 1.04, a current ratio of 0.38 and a debt-to-equity ratio of 33.22. The firm has a 50 day moving average price of C$17.85 and a 200 day moving average price of C$17.60.

Acadian Timber (TSE:ADN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported C$0.13 earnings per share for the quarter. Acadian Timber had a return on equity of 10.06% and a net margin of 26.53%. The business had revenue of C$25.96 million during the quarter. As a group, research analysts forecast that Acadian Timber Corp. will post 1.0095345 earnings per share for the current year.

Acadian Timber Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date is Tuesday, December 31st. 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.