West Fraser Timber Co. Ltd. (NYSE:WFG) Receives Consensus Rating of “Buy” from Brokerages

by · The Markets Daily

Shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Get Free Report) have been assigned a consensus rating of “Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $105.60.

A number of analysts have weighed in on WFG shares. BMO Capital Markets raised their target price on shares of West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada increased their price target on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, July 26th.

View Our Latest Stock Analysis on West Fraser Timber

West Fraser Timber Stock Performance

NYSE:WFG opened at $92.56 on Friday. West Fraser Timber has a twelve month low of $64.11 and a twelve month high of $93.62. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $85.22 and its 200 day simple moving average is $81.86. The firm has a market capitalization of $7.30 billion, a PE ratio of -76.45 and a beta of 1.16.

West Fraser Timber (NYSE:WFG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, analysts anticipate that West Fraser Timber will post 2.03 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be given a $0.237 dividend. This represents a $0.95 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, September 26th. West Fraser Timber’s dividend payout ratio (DPR) is currently -77.69%.

Institutional Trading of West Fraser Timber

A number of institutional investors and hedge funds have recently bought and sold shares of WFG. Heritage Wealth Management Inc. bought a new stake in West Fraser Timber in the second quarter valued at approximately $387,000. KGH Ltd boosted its stake in shares of West Fraser Timber by 38.9% in the 2nd quarter. KGH Ltd now owns 187,452 shares of the company’s stock valued at $14,399,000 after purchasing an additional 52,452 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of West Fraser Timber during the second quarter worth $884,000. Creative Planning lifted its holdings in West Fraser Timber by 76.3% in the second quarter. Creative Planning now owns 4,158 shares of the company’s stock valued at $320,000 after buying an additional 1,800 shares during the period. Finally, Impala Asset Management LLC lifted its holdings in West Fraser Timber by 108.3% in the second quarter. Impala Asset Management LLC now owns 125,000 shares of the company’s stock valued at $9,598,000 after buying an additional 65,000 shares during the period. 40.23% of the stock is currently owned by institutional investors and hedge funds.

West Fraser Timber Company Profile

(Get Free Report

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.

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