Hardwoods Distribution Inc (TSE:HDI) – Analysts at Cormark reduced their FY2019 earnings estimates for shares of Hardwoods Distribution in a research note issued to investors on Monday, May 13th. Cormark analyst M. Macdougall now forecasts that the company will post earnings per share of $1.54 for the year, down from their previous estimate of $1.70.
Hardwoods Distribution (TSE:HDI) last released its quarterly earnings results on Thursday, March 14th. The company reported C$0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.29 by C($0.03). The company had revenue of C$274.99 million during the quarter, compared to analysts’ expectations of C$264.30 million.
A number of other equities research analysts have also recently weighed in on HDI. National Bank Financial dropped their price target on Hardwoods Distribution from C$16.00 to C$15.50 and set an “outperform” rating for the company in a report on Monday. CIBC raised their price target on Hardwoods Distribution from C$15.00 to C$16.00 in a report on Monday. Finally, Canaccord Genuity decreased their price objective on Hardwoods Distribution from C$17.00 to C$15.00 in a research report on Monday, March 18th.
HDI stock opened at C$12.69 on Thursday. Hardwoods Distribution has a fifty-two week low of C$10.04 and a fifty-two week high of C$18.97. The firm has a market cap of $268.81 million and a P/E ratio of 9.13. The company has a quick ratio of 0.70, a current ratio of 1.94 and a debt-to-equity ratio of 76.74.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.32 dividend on an annualized basis and a yield of 2.52%. Hardwoods Distribution’s payout ratio is 21.40%.
Hardwoods Distribution Company Profile
Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential and commercial construction sectors in Canada and the United States. The company offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, and solid surfaces.
Further Reading: Institutional Investors
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