Analysts Set Weyerhaeuser Company (NYSE:WY) Price Target at $29.00

Weyerhaeuser Company (NYSE:WY) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $28.6667.

Several research firms recently weighed in on WY. Raymond James Financial raised Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Friday, July 10th. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. DA Davidson reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Truist Financial reissued a “hold” rating and set a $28.00 target price (up from $27.00) on shares of Weyerhaeuser in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their price target on Weyerhaeuser from $31.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, September 3rd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in Weyerhaeuser by 2,980.6% during the 2nd quarter. California State Teachers Retirement System now owns 25,524,804 shares of the real estate investment trust’s stock worth $611,064,000 after buying an additional 24,696,247 shares during the period. First Eagle Investment Management LLC raised its position in shares of Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after purchasing an additional 23,485,504 shares during the period. Norges Bank bought a new position in shares of Weyerhaeuser in the 4th quarter worth $549,531,000. Bank of New York Mellon Corp acquired a new stake in Weyerhaeuser in the 2nd quarter valued at $468,969,000. Finally, Wellington Management Group LLP grew its position in Weyerhaeuser by 14.3% in the 2nd quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust’s stock valued at $1,043,164,000 after purchasing an additional 5,437,685 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Up 0.1%

WY opened at $23.04 on Tuesday. Weyerhaeuser has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. The stock has a fifty day moving average of $24.08 and a 200-day moving average of $24.20. The company has a market capitalization of $16.61 billion, a P/E ratio of 35.45, a P/E/G ratio of 2.23 and a beta of 0.87.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 EPS. On average, equities analysts expect that Weyerhaeuser will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 annualized dividend and a yield of 3.6%. Weyerhaeuser’s payout ratio is 129.23%.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.