Scotiabank Research Analysts Boost Earnings Estimates for West Fraser Timber Co. Ltd. (NYSE:WFG)

West Fraser Timber Co. Ltd. (NYSE:WFG) – Equities researchers at Scotiabank raised their FY2024 earnings per share estimates for West Fraser Timber in a report issued on Monday, April 29th. Scotiabank analyst B. Isaacson now anticipates that the company will post earnings of $4.15 per share for the year, up from their prior estimate of $1.81. Scotiabank currently has a “Outperform” rating and a $100.00 target price on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $3.56 per share.

West Fraser Timber (NYSE:WFG) last released its earnings results on Tuesday, April 23rd. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.48. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.47 billion. West Fraser Timber had a positive return on equity of 2.35% and a negative net margin of 1.39%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.52) earnings per share.

A number of other equities research analysts have also weighed in on WFG. TD Securities raised their price objective on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Raymond James raised their price target on West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $97.00 target price on shares of West Fraser Timber in a research note on Thursday, March 28th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $106.25.

West Fraser Timber Trading Up 0.6 %

WFG stock opened at $77.02 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. West Fraser Timber has a 1 year low of $64.11 and a 1 year high of $90.17. The stock has a 50-day simple moving average of $81.30 and a 200-day simple moving average of $79.07.

Institutional Investors Weigh In On West Fraser Timber

A number of institutional investors and hedge funds have recently bought and sold shares of WFG. Bfsg LLC acquired a new stake in West Fraser Timber in the 4th quarter valued at about $42,000. Accordant Advisory Group Inc purchased a new stake in West Fraser Timber during the first quarter valued at about $43,000. ICA Group Wealth Management LLC purchased a new stake in West Fraser Timber during the fourth quarter valued at about $43,000. Tower Research Capital LLC TRC purchased a new stake in West Fraser Timber during the fourth quarter valued at about $78,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in West Fraser Timber during the first quarter valued at about $103,000. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, March 14th. West Fraser Timber’s payout ratio is -49.59%.

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.