Weyerhaeuser’s (WY) “Buy” Rating Reiterated at Argus
Argus reiterated their buy rating on shares of Weyerhaeuser Co. (NYSE:WY) in a research note released on Tuesday. They currently have a $35.00 price target on the real estate investment trust’s stock.
Other research analysts also recently issued research reports about the stock. Citigroup Inc. lifted their target price on shares of Weyerhaeuser from $36.00 to $37.00 and gave the stock a buy rating in a report on Monday, August 8th. Zacks Investment Research upgraded shares of Weyerhaeuser from a strong sell rating to a hold rating in a report on Wednesday, July 13th. DA Davidson upgraded shares of Weyerhaeuser from a neutral rating to a buy rating and set a $33.00 target price on the stock in a report on Wednesday, June 29th. They noted that the move was a valuation call. Finally, Dundee Securities downgraded shares of Weyerhaeuser from a buy rating to a neutral rating in a report on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $35.38.
Weyerhaeuser (NYSE:WY) opened at 32.08 on Tuesday. Weyerhaeuser has a one year low of $22.06 and a one year high of $33.17. The firm has a market capitalization of $24.02 billion, a P/E ratio of 41.34 and a beta of 1.44. The firm has a 50-day moving average price of $31.43 and a 200 day moving average price of $30.95.
Weyerhaeuser (NYSE:WY) last announced its earnings results on Friday, August 5th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by $0.01. The firm earned $1.41 billion during the quarter, compared to the consensus estimate of $7.54 billion. Weyerhaeuser had a return on equity of 8.35% and a net margin of 7.24%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 EPS. Equities research analysts anticipate that Weyerhaeuser will post $1.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.87%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 158.98%.
In other news, VP Rhonda D. Hunter sold 3,292 shares of Weyerhaeuser 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Rhonda D. Hunter sold 3,318 shares of Weyerhaeuser stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $33.00, for a total transaction of $109,494.00. Following the sale, the vice president now owns 61,768 shares in the company, valued at $2,038,344. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its stake in shares of Weyerhaeuser by 0.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 135,084 shares of the real estate investment trust’s stock valued at $4,050,000 after buying an additional 1,030 shares during the period. Norges Bank acquired a new stake in shares of Weyerhaeuser during the fourth quarter valued at $133,093,000. Capstone Asset Management Co. raised its stake in shares of Weyerhaeuser by 49.2% in the first quarter. Capstone Asset Management Co. now owns 61,791 shares of the real estate investment trust’s stock valued at $1,914,000 after buying an additional 20,368 shares during the period. Sigma Planning Corp acquired a new stake in shares of Weyerhaeuser during the first quarter valued at $271,000. Finally, FirstMerit Bank N A Trustee raised its stake in shares of Weyerhaeuser by 23.4% in the first quarter. FirstMerit Bank N A Trustee now owns 12,295 shares of the real estate investment trust’s stock valued at $381,000 after buying an additional 2,334 shares during the period. Institutional investors and hedge funds own 75.73% of the company’s stock.
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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