West Fraser Timber Co. Ltd. (NYSE:WFG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of West Fraser Timber Co. Ltd. (NYSE:WFG) have earned an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $83.20.

Several research firms recently commented on WFG. Royal Bank Of Canada decreased their price target on shares of West Fraser Timber from $85.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of West Fraser Timber in a research note on Friday, July 31st. Weiss Ratings downgraded shares of West Fraser Timber from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. TD Securities reiterated a “buy” rating on shares of West Fraser Timber in a report on Friday, July 31st. Finally, Zacks Research upgraded West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th.

West Fraser Timber Stock Up 0.6%

NYSE:WFG opened at $68.06 on Monday. The business’s fifty day moving average price is $68.44 and its 200 day moving average price is $66.57. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of -4.41 and a beta of 1.00. 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 1-year low of $57.34 and a 1-year high of $76.99.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.08). West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. On average, sell-side analysts forecast that West Fraser Timber will post -3.77 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. West Fraser Timber’s payout ratio is presently -8.29%.

Hedge Funds Weigh In On West Fraser Timber

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in West Fraser Timber by 72.2% during the first quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock valued at $29,000 after acquiring an additional 184 shares in the last quarter. EFG International AG bought a new stake in West Fraser Timber in the fourth quarter worth approximately $31,000. Physician Wealth Advisors Inc. grew its position in West Fraser Timber by 177.0% in the first quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock worth $38,000 after acquiring an additional 370 shares in the last quarter. Nykredit A S bought a new stake in West Fraser Timber in the second quarter worth approximately $156,000. Finally, Aegis Financial Corp acquired a new position in shares of West Fraser Timber during the 1st quarter worth $205,000. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.