Goldman Sachs Group Inc. Initiates Coverage on Weyerhaeuser Co. (WY)
Analysts at Goldman Sachs Group Inc. assumed coverage on shares of Weyerhaeuser Co. (NYSE:WY) in a research note issued on Thursday. The firm set a “buy” rating and a $37.00 price target on the real estate investment trust’s stock. Goldman Sachs Group Inc.’s price objective points to a potential upside of 21.95% from the stock’s previous close.
A number of other brokerages also recently issued reports on WY. Citigroup Inc. boosted their price objective on shares of Weyerhaeuser from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, August 8th. DA Davidson downgraded shares of Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a report on Monday, August 8th. Dundee Securities downgraded shares of Weyerhaeuser from a “buy” rating to a “neutral” rating in a report on Friday, August 12th. Zacks Investment Research raised shares of Weyerhaeuser from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, July 19th. Finally, Argus reaffirmed a “buy” rating on shares of Weyerhaeuser in a report on Sunday, June 12th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $35.25.
Weyerhaeuser (NYSE:WY) opened at 30.34 on Thursday. The stock has a market cap of $22.72 billion, a P/E ratio of 39.10 and a beta of 1.44. The stock has a 50 day moving average price of $31.44 and a 200 day moving average price of $30.94. Weyerhaeuser has a 12-month low of $22.06 and a 12-month high of $33.17.
Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. Weyerhaeuser had a net margin of 7.24% and a return on equity of 8.35%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $7.54 billion. During the same period in the previous year, the firm earned $0.26 EPS. The company’s revenue was up 23.0% on a year-over-year basis. On average, analysts forecast that Weyerhaeuser will post $1.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Wednesday, September 7th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 158.98%.
In other Weyerhaeuser news, VP Rhonda D. Hunter sold 3,292 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $30.00, for a total transaction of $98,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rick R. Holley sold 608,000 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $32.55, for a total transaction of $19,790,400.00. Following the transaction, the director now directly owns 696,488 shares of the company’s stock, valued at approximately $22,670,684.40. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WY. Renaissance Technologies LLC acquired a new stake in shares of Weyerhaeuser during the first quarter valued at about $44,534,000. Prudential PLC acquired a new stake in shares of Weyerhaeuser during the first quarter valued at about $8,650,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Weyerhaeuser by 5.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,166,500 shares of the real estate investment trust’s stock valued at $36,138,000 after buying an additional 65,211 shares in the last quarter. Sigma Planning Corp acquired a new stake in shares of Weyerhaeuser during the first quarter valued at about $271,000. Finally, Legal & General Group Plc boosted its stake in shares of Weyerhaeuser by 51.3% in the first quarter. Legal & General Group Plc now owns 3,589,855 shares of the real estate investment trust’s stock valued at $111,214,000 after buying an additional 1,217,641 shares in the last quarter. 75.73% of the stock is owned by institutional investors and hedge funds.
Weyerhaeuser Company Profile
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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