Hardwoods Distribution Inc. (TSE:HDI) – Equities researchers at Cormark dropped their FY2022 earnings estimates for Hardwoods Distribution in a research note issued on Wednesday, December 8th. Cormark analyst J. Fenwick now expects that the company will post earnings per share of $5.48 for the year, down from their prior forecast of $5.78.
Several other equities research analysts also recently weighed in on HDI. National Bankshares upped their price target on Hardwoods Distribution from C$67.50 to C$75.50 and gave the stock an “outperform” rating in a report on Tuesday. CIBC upped their price target on Hardwoods Distribution from C$51.00 to C$59.00 and gave the stock an “outperform” rating in a report on Tuesday, November 9th. Finally, Canaccord Genuity upped their price objective on Hardwoods Distribution from C$62.00 to C$66.00 in a research report on Thursday, October 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Hardwoods Distribution currently has an average rating of “Buy” and a consensus price target of C$61.17.
Shares of TSE HDI opened at C$42.81 on Friday. The stock’s 50-day moving average is C$40.98 and its two-hundred day moving average is C$37.19. The company has a debt-to-equity ratio of 202.12, a current ratio of 2.22 and a quick ratio of 0.66. Hardwoods Distribution has a 1-year low of C$24.08 and a 1-year high of C$49.34. The company has a market cap of C$911.34 million and a price-to-earnings ratio of 9.29.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 29th. Stockholders of record on Friday, October 29th were given a dividend of $0.10 per share. The ex-dividend date was Friday, October 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. Hardwoods Distribution’s dividend payout ratio is currently 6.59%.
The government’s cash infusion could send lithium exploration companies soaring. They’re desperate for new lithium mines to end China’s Lithium Monopoly. See how you could take advantage of this enormous cash infusion.
Hardwoods Distribution Company Profile
Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It 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, solid surface products, and decorative laminates.
Further Reading: The Discount Rate – What You Need to Know
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Hardwoods Distribution right now?
Before you consider Hardwoods Distribution, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Hardwoods Distribution wasn’t on the list.
While Hardwoods Distribution currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
