Acadian Timber Corp (TSE:ADN)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as C$18.70 and last traded at C$18.74, with a volume of 2274 shares changing hands. The stock had previously closed at C$18.76.
Separately, CIBC upgraded Acadian Timber from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from C$19.00 to C$20.00 in a research report on Thursday, July 12th.
Acadian Timber (TSE:ADN) last announced its quarterly earnings data on Wednesday, August 1st. The company reported C$0.11 EPS for the quarter. Acadian Timber had a return on equity of 18.43% and a net margin of 61.85%. The business had revenue of C$16.10 million for the quarter.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Sunday, September 30th will be given a $0.282 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.13 annualized dividend and a dividend yield of 6.09%.
Acadian Timber Company Profile (TSE:ADN)
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 approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.
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