StockNews.com Begins Coverage on Weyerhaeuser (NYSE:WY)

Posted by Trevor Kearing on Mar 19th, 2023

StockNews.com began coverage on shares of Weyerhaeuser (NYSE:WY – Get Rating) in a research note released on Thursday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on the stock. Citigroup increased their target price on shares of Weyerhaeuser from $37.00 to $39.00 and gave the stock a buy rating in a research report on Tuesday, January 31st. Raymond James raised their price objective on Weyerhaeuser from $38.00 to $42.00 and gave the stock a strong-buy rating in a research note on Monday, February 13th. Finally, BMO Capital Markets cut their target price on Weyerhaeuser from $42.00 to $36.00 and set a market perform rating for the company in a research report on Monday, February 6th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $37.43.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $29.21 on Thursday. The business’s 50 day moving average price is $32.07 and its two-hundred day moving average price is $31.45. The company has a market cap of $21.39 billion, a PE ratio of 11.55 and a beta of 1.47. The company has a quick ratio of 1.26, a current ratio of 1.58 and a debt-to-equity ratio of 0.38. Weyerhaeuser has a twelve month low of $27.36 and a twelve month high of $42.86.

Weyerhaeuser (NYSE:WY – Get Rating) last announced its quarterly earnings results on Friday, January 27th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.92 billion. Weyerhaeuser had a return on equity of 21.08% and a net margin of 18.46%. The business’s revenue was down 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. On average, analysts predict that Weyerhaeuser will post 1.05 EPS for the current year.

Weyerhaeuser Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Friday, March 3rd were given a $0.19 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $0.76 annualized dividend and a yield of 2.60%. Weyerhaeuser’s payout ratio is 30.04%.

Insider Activity at Weyerhaeuser

In other Weyerhaeuser news, CEO Devin W. Stockfish sold 1,800 shares of Weyerhaeuser stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $36.00, for a total transaction of $64,800.00. Following the transaction, the chief executive officer now owns 567,381 shares of the company’s stock, valued at approximately $20,425,716. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Fairfield Bush & CO. purchased a new position in shares of Weyerhaeuser during the 1st quarter valued at $52,000. Cibc World Market Inc. purchased a new position in shares of Weyerhaeuser during the 1st quarter valued at $1,440,000. Dimensional Fund Advisors LP grew its position in shares of Weyerhaeuser by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 414,977 shares of the real estate investment trust’s stock valued at $15,730,000 after purchasing an additional 5,984 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of Weyerhaeuser by 2.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,422 shares of the real estate investment trust’s stock valued at $1,570,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in shares of Weyerhaeuser by 10.3% during the 1st quarter. Loomis Sayles & Co. L P now owns 6,381 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 596 shares in the last quarter. 80.86% of the stock is currently owned by hedge funds and other institutional investors.

About Weyerhaeuser

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Weyerhaeuser Co engages in the manufacture, distribution, and sale of forest products. It operates through the following business segments: Timberlands, Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products. The Timberlands segment manages private commercial forestland worldwide, engages in growing and harvesting trees for lumber, building, pulp, paper and other wood products.