West Fraser Timber (NYSE:WFG) Announces Earnings Results

West Fraser Timber (NYSE:WFG) announced its quarterly earnings results on Wednesday. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.27), reports. West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.42 billion.

West Fraser Timber Price Performance

WFG traded down $0.42 during midday trading on Thursday, hitting $68.24. 227,277 shares of the company traded hands, compared to its average volume of 215,375. The company has a current ratio of 2.06, a quick ratio of 0.83 and a debt-to-equity ratio of 0.05. West Fraser Timber has a 52-week low of $57.34 and a 52-week high of $76.99. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of -4.42 and a beta of 1.06. The business has a 50 day simple moving average of $68.41 and a two-hundred day simple moving average of $67.30.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 19th. Investors of record on Tuesday, September 29th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 29th. West Fraser Timber’s payout ratio is presently -8.29%.

Analysts Set New Price Targets

WFG has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of West Fraser Timber to a “buy” rating in a research note on Thursday. Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. TD Securities reissued a “buy” rating on shares of West Fraser Timber in a research report on Friday, July 31st. Royal Bank Of Canada reduced their price target on West Fraser Timber from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of West Fraser Timber in a research report on Friday, July 31st. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, West Fraser Timber presently has an average rating of “Moderate Buy” and a consensus price target of $83.80.

About West Fraser Timber

West Fraser Timber Co Ltd. is a diversified wood products company that manufactures and sells building materials for residential, commercial and industrial applications. Its principal products include lumber, oriented strand board, laminated veneer lumber and other engineered wood products used in construction, remodeling and manufacturing.

The company operates wood product manufacturing facilities and manages timber resources across Canada and the United States, with a significant presence in Western Canada and the U.S.