West Fraser Timber (NYSE:WFG) Announces Quarterly Earnings Results, Beats Estimates By $0.63 EPS

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

West Fraser Timber Price Performance

WFG stock traded down $0.42 during mid-day trading on Thursday, reaching $83.37. 22,873 shares of the company’s stock were exchanged, compared to its average volume of 166,157. West Fraser Timber has a 12-month low of $73.91 and a 12-month high of $102.40. The stock’s 50 day moving average is $87.99 and its 200 day moving average is $90.77. The company has a market cap of $6.48 billion, a price-to-earnings ratio of -64.86 and a beta of 1.22.

West Fraser Timber Increases Dividend

The firm 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 annualized dividend and a dividend yield of 1.54%. The ex-dividend date 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 currently -100.00%.

Analyst Ratings Changes

WFG has been the subject of several recent research reports. Raymond James reduced their target price on shares of West Fraser Timber from $120.00 to $115.00 in a report on Thursday, January 30th. BMO Capital Markets boosted their price objective on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Scotiabank lowered their target price on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 3rd. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $111.40.

West Fraser Timber Company Profile

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.