Weyerhaeuser (NYSE:WY) Forecasted to Earn Q1 2024 Earnings of $0.15 Per Share

Weyerhaeuser (NYSE:WY) – Equities research analysts at Seaport Res Ptn reduced their Q1 2024 earnings per share estimates for shares of Weyerhaeuser in a report issued on Monday, April 15th. Seaport Res Ptn analyst M. Weintraub now expects that the real estate investment trust will post earnings of $0.15 per share for the quarter, down from their prior estimate of $0.21. The consensus estimate for Weyerhaeuser’s current full-year earnings is $1.03 per share. Seaport Res Ptn also issued estimates for Weyerhaeuser’s Q2 2024 earnings at $0.35 EPS and Q3 2024 earnings at $0.33 EPS.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Friday, January 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Weyerhaeuser had a return on equity of 7.36% and a net margin of 10.93%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business earned $0.24 EPS. Weyerhaeuser’s revenue was down 2.7% compared to the same quarter last year.

Several other research firms have also commented on WY. Truist Financial reissued a “hold” rating and issued a $36.00 price target on shares of Weyerhaeuser in a research report on Wednesday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price target on shares of Weyerhaeuser in a research report on Monday, January 29th. CIBC set a $37.00 price target on Weyerhaeuser and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. StockNews.com lowered Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets boosted their price target on Weyerhaeuser from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Weyerhaeuser presently has an average rating of “Hold” and a consensus target price of $38.00.

Weyerhaeuser Price Performance

Shares of WY stock opened at $31.52 on Wednesday. Weyerhaeuser has a twelve month low of $28.12 and a twelve month high of $36.27. The stock has a market capitalization of $23.00 billion, a price-to-earnings ratio of 27.41 and a beta of 1.43. The stock has a fifty day simple moving average of $34.18 and a two-hundred day simple moving average of $32.66. The company has a current ratio of 2.94, a quick ratio of 2.22 and a debt-to-equity ratio of 0.50.

Weyerhaeuser Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.20 dividend. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. Weyerhaeuser’s dividend payout ratio is presently 69.57%.

Insider Transactions at Weyerhaeuser

In other news, CFO David M. Wold sold 924 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the sale, the chief financial officer now owns 60,655 shares in the company, valued at $1,991,910.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Weyerhaeuser news, SVP Keith O’rear sold 8,349 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $36.03, for a total transaction of $300,814.47. Following the transaction, the senior vice president now owns 170,665 shares in the company, valued at $6,149,059.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Wold sold 924 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the transaction, the chief financial officer now owns 60,655 shares in the company, valued at approximately $1,991,910.20. The disclosure for this sale can be found here. Insiders have sold 42,699 shares of company stock worth $1,455,609 over the last quarter. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Weyerhaeuser

A number of hedge funds have recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Weyerhaeuser by 15.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 6,583 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 875 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Weyerhaeuser by 5.7% during the third quarter. Public Sector Pension Investment Board now owns 149,003 shares of the real estate investment trust’s stock valued at $4,568,000 after acquiring an additional 8,031 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Weyerhaeuser by 18.3% during the third quarter. Teacher Retirement System of Texas now owns 425,848 shares of the real estate investment trust’s stock valued at $13,057,000 after acquiring an additional 65,808 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Weyerhaeuser during the fourth quarter valued at approximately $36,237,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Weyerhaeuser by 21.3% during the third quarter. Public Employees Retirement System of Ohio now owns 551,160 shares of the real estate investment trust’s stock valued at $16,899,000 after acquiring an additional 96,900 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.