Western Forest Products (TSE:WEF) Stock Crosses Above 200 Day Moving Average – What’s Next?

Western Forest Products Inc. (TSE:WEF)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$0.49 and traded as high as C$0.56. Western Forest Products shares last traded at C$0.55, with a volume of 372,099 shares trading hands.

Wall Street Analyst Weigh In

WEF has been the topic of a number of research analyst reports. CIBC reduced their target price on Western Forest Products from C$0.60 to C$0.50 in a report on Thursday, July 18th. TD Securities decreased their price objective on shares of Western Forest Products from C$0.60 to C$0.50 in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada dropped their target price on shares of Western Forest Products from C$0.80 to C$0.70 in a report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$0.65.

Western Forest Products Price Performance

The firm has a market cap of C$174.21 million, a price-to-earnings ratio of -3.93, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. The stock has a 50-day moving average of C$0.47 and a 200-day moving average of C$0.49. The company has a current ratio of 2.97, a quick ratio of 0.73 and a debt-to-equity ratio of 18.43.

Western Forest Products (TSE:WEF) last released its quarterly earnings results on Wednesday, July 31st. The company reported C($0.01) EPS for the quarter, topping the consensus estimate of C($0.03) by C$0.02. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. The business had revenue of C$309.50 million during the quarter, compared to analyst estimates of C$258.00 million. As a group, sell-side analysts forecast that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal 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.