West Fraser Timber Co. Ltd. to Post FY2024 Earnings of $7.56 Per Share, Raymond James Forecasts (TSE:WFG)

West Fraser Timber Co. Ltd. (TSE:WFG) – Raymond James increased their FY2024 earnings per share estimates for shares of West Fraser Timber in a research report issued on Friday, April 19th. Raymond James analyst D. Swetlishoff now forecasts that the company will post earnings per share of $7.56 for the year, up from their previous estimate of $7.41. The consensus estimate for West Fraser Timber’s current full-year earnings is $3.96 per share.

West Fraser Timber (TSE:WFG) last posted its quarterly earnings data on Wednesday, February 14th. The company reported C($0.31) earnings per share for the quarter, topping the consensus estimate of C($0.38) by C$0.07. West Fraser Timber had a negative return on equity of 2.25% and a negative net margin of 2.59%. The firm had revenue of C$2.06 billion during the quarter.

Separately, CIBC raised their target price on West Fraser Timber from C$131.00 to C$140.00 in a research note on Thursday, April 11th.

West Fraser Timber Stock Performance

WFG stock opened at C$107.41 on Monday. The company has a current ratio of 2.26, a quick ratio of 2.10 and a debt-to-equity ratio of 7.45. The stock has a 50-day moving average price of C$110.48 and a 200-day moving average price of C$106.43. The firm has a market cap of C$8.52 billion, a PE ratio of -39.34 and a beta of 2.08. West Fraser Timber has a 1-year low of C$88.61 and a 1-year high of C$121.64.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.403 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.61 annualized dividend and a dividend yield of 1.50%. West Fraser Timber’s dividend payout ratio is presently -59.34%.

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.