West Fraser Timber (NYSE:WFG) Releases Earnings Results, Beats Expectations By $0.63 EPS

West Fraser Timber (NYSE:WFG) released its quarterly earnings results on Wednesday. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.55) by $0.63, Zacks reports. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%.

West Fraser Timber Price Performance

WFG traded down $1.21 during trading on Wednesday, hitting $83.87. The company had a trading volume of 212,629 shares, compared to its average volume of 171,912. West Fraser Timber has a 1-year low of $73.91 and a 1-year high of $102.40. The company has a market cap of $6.52 billion, a PE ratio of -65.52 and a beta of 1.22. The business has a 50-day moving average of $88.20 and a 200-day moving average of $90.81.

West Fraser Timber Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, December 27th. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s payout ratio is -100.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WFG shares. 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 note on Tuesday, October 22nd. Raymond James lowered their price target on shares of West Fraser Timber from $120.00 to $115.00 in a report on Thursday, January 30th. Finally, Scotiabank cut their price objective on shares of West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber has a consensus rating of “Buy” and a consensus target price of $111.40.

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.