Raymond James Equities Analysts Reduce Earnings Estimates for Acadian Timber Corp. (TSE:ADN)

Acadian Timber Corp. (TSE:ADN - Free Report) - Analysts at Raymond James reduced their FY2024 earnings per share (EPS) estimates for Acadian Timber in a report released on Wednesday, April 3rd. Raymond James analyst D. Swetlishoff now forecasts that the company will earn $0.74 per share for the year, down from their prior forecast of $0.79. Raymond James has a "Outperform" rating and a $18.50 price target on the stock. The consensus estimate for Acadian Timber's current full-year earnings is $0.79 per share.

Separately, Royal Bank of Canada boosted their target price on Acadian Timber from C$17.00 to C$18.00 and gave the stock a "sector perform" rating in a research report on Friday, February 9th.

Acadian Timber Price Performance

Shares of TSE:ADN traded up C$0.17 during trading on Friday, hitting C$17.10. 2,635 shares of the stock were exchanged, compared to its average volume of 6,336. Acadian Timber has a 12-month low of C$15.50 and a 12-month high of C$18.69. The company has a market cap of C$294.98 million, a PE ratio of 9.84, a P/E/G ratio of -4.84 and a beta of 0.87. The company has a fifty day moving average price of C$16.83 and a two-hundred day moving average price of C$16.80. The company has a current ratio of 1.96, a quick ratio of 1.04 and a debt-to-equity ratio of 33.08.

Acadian Timber (TSE:ADN - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported C$0.08 EPS for the quarter, missing analysts' consensus estimates of C$0.16 by C($0.08). Acadian Timber had a return on equity of 9.45% and a net margin of 31.49%. The company had revenue of C$23.82 million for the quarter.

Acadian Timber Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Sunday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.16 annualized dividend and a dividend yield of 6.78%. Acadian Timber's dividend payout ratio is currently 67.44%.

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.