Western Forest Products (TSE:WEF) Announces Quarterly Earnings Results

Western Forest Products (TSE:WEF) posted its earnings results on Wednesday. The company reported C$1.10 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$239.60 million during the quarter. Western Forest Products had a negative net margin of 12.23% and a negative return on equity of 22.88%.

Western Forest Products Price Performance

Shares of WEF traded down C$0.61 during midday trading on Wednesday, reaching C$17.85. The stock had a trading volume of 27,274 shares, compared to its average volume of 41,203. The company has a debt-to-equity ratio of 15.10, a current ratio of 2.63 and a quick ratio of 0.73. The company has a market capitalization of C$188.46 million, a P/E ratio of -1.67, a P/E/G ratio of 0.32 and a beta of 0.23. The firm’s 50 day moving average price is C$17.78 and its 200-day moving average price is C$15.65. Western Forest Products has a 52 week low of C$10.16 and a 52 week high of C$19.40.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WEF shares. TD lifted their price target on Western Forest Products from C$17.00 to C$19.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Raymond James Financial increased their price objective on Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, Royal Bank Of Canada raised their target price on Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a research report on Thursday, April 16th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, Western Forest Products has a consensus rating of “Hold” and a consensus target price of C$17.40.

Insider Transactions at Western Forest Products

In other Western Forest Products news, Director Elizabeth Kernaghan sold 1,800 shares of the company’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total value of C$34,290.00. Following the completion of the sale, the director directly owned 1,889,000 shares of the company’s stock, valued at approximately C$35,985,450. This represents a 0.10% decrease in their position. Also, insider Kernwood Limited sold 2,700 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total transaction of C$51,300.00. Following the transaction, the insider owned 1,900,800 shares of the company’s stock, valued at approximately C$36,115,200. This trade represents a 0.14% decrease in their position. Over the last ninety days, insiders have sold 14,200 shares of company stock worth $270,980. 0.67% of the stock is owned by corporate insiders.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company’s largest markets and contribute the vast majority of its total revenue.