Brokers Issue Forecasts for West Fraser Timber Co. Ltd.’s FY2024 Earnings (NYSE:WFG)

West Fraser Timber Co. Ltd. (NYSE:WFG) – Stock analysts at Raymond James dropped their FY2024 earnings per share estimates for West Fraser Timber in a research report issued on Wednesday, April 24th. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings per share of $5.31 for the year, down from their previous forecast of $5.52. Raymond James has a “Strong-Buy” rating and a $105.00 price target on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $3.66 per share. Raymond James also issued estimates for West Fraser Timber’s FY2025 earnings at $9.43 EPS.

Several other brokerages also recently issued reports on WFG. Royal Bank of Canada reiterated an “outperform” rating and set a $97.00 price target on shares of West Fraser Timber in a research report on Thursday, March 28th. Scotiabank set a $100.00 price target on shares of West Fraser Timber and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Finally, TD Securities upped their price target on shares of West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, West Fraser Timber has an average rating of “Buy” and a consensus price target of $106.25.

West Fraser Timber Stock Up 0.1 %

Shares of NYSE WFG opened at $78.72 on Thursday. The firm’s 50-day simple moving average is $81.46 and its 200 day simple moving average is $78.70. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -65.06 and a beta of 1.15. The company has a quick ratio of 1.45, a current ratio of 2.26 and a debt-to-equity ratio of 0.03. West Fraser Timber has a 12-month low of $64.11 and a 12-month high of $90.17.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Tuesday, April 23rd. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.48. West Fraser Timber had a negative net margin of 1.39% and a positive return on equity of 2.34%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the company earned ($0.52) EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. West Fraser Timber’s payout ratio is -49.59%.

Institutional Trading of West Fraser Timber

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in West Fraser Timber by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company’s stock worth $202,065,000 after purchasing an additional 39,929 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its stake in West Fraser Timber by 16.3% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company’s stock worth $236,000 after purchasing an additional 455 shares in the last quarter. Hudson Bay Capital Management LP increased its stake in West Fraser Timber by 47.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 155,000 shares of the company’s stock worth $11,244,000 after purchasing an additional 50,000 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in West Fraser Timber during the 3rd quarter worth approximately $1,798,000. Finally, Royal Bank of Canada boosted its position in West Fraser Timber by 9.0% during the 3rd quarter. Royal Bank of Canada now owns 2,319,488 shares of the company’s stock worth $168,256,000 after acquiring an additional 191,613 shares during the last quarter. 40.23% of the stock is owned by institutional investors.

About West Fraser Timber

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.