West Fraser Timber (NYSE:WFG) Issues Earnings Results

West Fraser Timber (NYSE:WFG) announced its earnings results on Wednesday. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87), Yahoo Finance reports. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. During the same period last year, the firm earned $1.81 EPS.

West Fraser Timber Stock Performance

NYSE WFG opened at $97.33 on Friday. The stock has a market cap of $7.68 billion, a PE ratio of -80.52 and a beta of 1.16. West Fraser Timber has a twelve month low of $64.11 and a twelve month high of $102.40. The stock has a fifty day simple moving average of $93.14 and a 200-day simple moving average of $84.51. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03.

West Fraser Timber Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 annualized dividend and a yield of 0.97%. West Fraser Timber’s dividend payout ratio (DPR) is -77.69%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their target price on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Scotiabank upped their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $111.60.

About West Fraser Timber

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.