West Fraser Timber (NYSE:WFG) Releases Quarterly Earnings Results, Misses Expectations By $0.87 EPS

West Fraser Timber (NYSE:WFG) released its quarterly earnings data on Wednesday. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.87), Yahoo Finance reports. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. During the same quarter in the previous year, the business posted $1.81 earnings per share.

West Fraser Timber Trading Up 2.0 %

Shares of West Fraser Timber stock traded up $1.93 on Friday, reaching $97.43. The company had a trading volume of 293,765 shares, compared to its average volume of 160,060. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. The firm’s 50-day moving average price is $92.90 and its two-hundred day moving average price is $84.40. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of -80.89 and a beta of 1.16. West Fraser Timber has a 1 year low of $64.11 and a 1 year high of $102.40.

West Fraser Timber Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were issued a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Thursday, September 26th. West Fraser Timber’s payout ratio is -77.69%.

Analysts Set New Price Targets

WFG has been the topic of a number of research reports. Royal Bank of Canada raised their price target on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Scotiabank upped their target price on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Friday. Finally, BMO Capital Markets lifted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $111.60.

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.