Weyerhaeuser (NYSE:WY) Price Target Raised to $32.00 at Argus

Weyerhaeuser (NYSE:WY) had its target price increased by Argus to $32.00 in a research note published on Monday morning, The Fly reports. Argus currently has a buy rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. Bank of America set a $31.00 target price on Weyerhaeuser and gave the stock a hold rating in a research note on Friday, October 25th. BMO Capital Markets set a $32.00 target price on Weyerhaeuser and gave the stock a buy rating in a research note on Tuesday, September 17th. Royal Bank of Canada reissued a buy rating on shares of Weyerhaeuser in a research note on Tuesday, September 17th. ValuEngine raised Weyerhaeuser from a hold rating to a buy rating in a research note on Wednesday, October 2nd. Finally, Scotiabank set a $28.50 target price on Weyerhaeuser and gave the stock a hold rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Weyerhaeuser presently has a consensus rating of Buy and an average price target of $30.64.

Shares of NYSE:WY traded up $0.10 on Monday, reaching $29.72. 2,537,875 shares of the company traded hands, compared to its average volume of 4,254,526. The business’s 50-day simple moving average is $28.50 and its 200 day simple moving average is $26.28. Weyerhaeuser has a 52 week low of $20.52 and a 52 week high of $30.28. The stock has a market capitalization of $21.87 billion, a P/E ratio of 25.19 and a beta of 1.66. The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.72.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Friday, October 25th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). Weyerhaeuser had a negative net margin of 2.33% and a positive return on equity of 3.78%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. Sell-side analysts expect that Weyerhaeuser will post 0.4 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.36 annualized dividend and a yield of 4.58%. Weyerhaeuser’s payout ratio is 115.25%.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Weyerhaeuser by 12.4% in the 2nd quarter. Vanguard Group Inc. now owns 107,715,183 shares of the real estate investment trust’s stock worth $2,837,219,000 after acquiring an additional 11,845,982 shares during the last quarter. Northern Trust Corp raised its holdings in Weyerhaeuser by 1.0% in the 2nd quarter. Northern Trust Corp now owns 10,871,188 shares of the real estate investment trust’s stock worth $286,347,000 after acquiring an additional 104,432 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Weyerhaeuser in the 2nd quarter worth approximately $197,323,000. Pictet Asset Management Ltd. raised its holdings in Weyerhaeuser by 6.3% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,289,462 shares of the real estate investment trust’s stock worth $112,984,000 after acquiring an additional 252,350 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Weyerhaeuser by 4.5% in the 2nd quarter. Morgan Stanley now owns 4,280,269 shares of the real estate investment trust’s stock worth $112,742,000 after acquiring an additional 183,558 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.2 million acres of timberlands in the U.S., and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.

Recommended Story: Why do companies issue monthly dividends?

The Fly

Analyst Recommendations for Weyerhaeuser (NYSE:WY)

Receive News & Ratings for Weyerhaeuser Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weyerhaeuser and related companies with MarketBeat.com's FREE daily email newsletter.