West Fraser Timber (NYSE:WFG) Issues Quarterly Earnings Results, Misses Expectations By $0.87 EPS

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

West Fraser Timber Stock Up 2.0 %

WFG stock traded up $1.93 during midday trading on Friday, hitting $97.43. The company’s stock had a trading volume of 293,765 shares, compared to its average volume of 160,060. The company’s fifty day moving average price is $92.90 and its 200 day moving average price is $84.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. West Fraser Timber has a twelve month low of $64.11 and a twelve month high of $102.40. The stock has a market capitalization of $7.68 billion, a P/E ratio of -80.89 and a beta of 1.16.

West Fraser Timber Cuts Dividend

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

Analyst Upgrades and Downgrades

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

West Fraser Timber Company Profile

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.