Weyerhaeuser (NYSE:WY) Rating Increased to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of Weyerhaeuser (NYSE:WY) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other research firms have also issued reports on WY. Truist Financial reduced their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, January 6th. BMO Capital Markets upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Friday, December 6th. StockNews.com upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Monday, December 16th. Citigroup reduced their target price on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, CIBC raised shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price objective on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.14.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $29.51 on Wednesday. The firm’s 50 day moving average price is $29.92 and its 200-day moving average price is $30.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The firm has a market cap of $21.44 billion, a P/E ratio of 39.88 and a beta of 1.42.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS. As a group, equities research analysts predict that Weyerhaeuser will post 0.49 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, November 29th. Weyerhaeuser’s dividend payout ratio is presently 108.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WY. Wellington Management Group LLP grew its position in shares of Weyerhaeuser by 12.7% in the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock valued at $1,210,694,000 after buying an additional 4,035,048 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Weyerhaeuser by 257.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock valued at $151,437,000 after buying an additional 3,220,235 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Weyerhaeuser by 2,664.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock valued at $74,355,000 after buying an additional 2,116,520 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Weyerhaeuser by 30.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock valued at $291,306,000 after buying an additional 2,004,073 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Weyerhaeuser by 512.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock valued at $44,386,000 after buying an additional 1,308,125 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 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.