Western Forest Products (TSE:WEF) Price Target Cut to C$0.50 by Analysts at CIBC

Western Forest Products (TSE:WEF) had its price objective decreased by CIBC from C$0.60 to C$0.50 in a research note issued to investors on Thursday, BayStreet.CA reports.

A number of other equities research analysts have also recently commented on WEF. TD Securities reduced their price objective on Western Forest Products from C$0.65 to C$0.60 and set a hold rating for the company in a research note on Thursday, May 9th. Royal Bank of Canada reduced their price objective on Western Forest Products from C$0.80 to C$0.70 in a research note on Thursday, July 11th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of C$0.67.

Western Forest Products Trading Down 4.4 %

TSE WEF opened at C$0.44 on Thursday. The business has a 50 day simple moving average of C$0.48 and a 200 day simple moving average of C$0.57. Western Forest Products has a one year low of C$0.43 and a one year high of C$1.09. The stock has a market capitalization of C$137.79 million, a P/E ratio of -2.29, a P/E/G ratio of 0.32 and a beta of 1.94. The company has a debt-to-equity ratio of 17.90, a current ratio of 3.14 and a quick ratio of 0.73.

Western Forest Products (TSE:WEF) last released its earnings results on Tuesday, May 7th. The company reported C($0.02) EPS for the quarter. Western Forest Products had a negative return on equity of 9.90% and a negative net margin of 5.96%. The business had revenue of C$239.50 million for the quarter, compared to analyst estimates of C$231.00 million. Research analysts expect that Western Forest Products will post 0.004992 earnings per share for the current year.

About Western Forest Products

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.