Equities Analysts Set Expectations for West Fraser Timber Co. Ltd.’s FY2024 Earnings (NYSE:WFG)

West Fraser Timber Co. Ltd. (NYSE:WFG) – Investment analysts at Raymond James dropped their FY2024 earnings estimates for shares of West Fraser Timber in a report released on Wednesday, April 24th. Raymond James analyst D. Swetlishoff now anticipates that the company will earn $5.31 per share for the year, down from their prior forecast of $5.52. Raymond James has a “Strong-Buy” rating and a $105.00 price target on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $3.56 per share. Raymond James also issued estimates for West Fraser Timber’s FY2025 earnings at $9.43 EPS.

WFG has been the subject of several other reports. TD Securities upped their price objective on shares of West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Scotiabank set a $100.00 price objective on shares of West Fraser Timber and gave the stock an “outperform” rating in a report on Monday, January 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $97.00 price target on shares of West Fraser Timber in a research note on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $106.25.

West Fraser Timber Stock Down 0.2 %

Shares of NYSE WFG opened at $78.75 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. West Fraser Timber has a 12 month low of $64.11 and a 12 month high of $90.17. The firm has a market capitalization of $6.25 billion, a PE ratio of -65.08 and a beta of 1.15. The firm has a fifty day simple moving average of $81.40 and a two-hundred day simple moving average of $78.78.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.48. West Fraser Timber had a negative net margin of 1.39% and a positive return on equity of 2.35%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the business earned ($0.52) EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Triasima Portfolio Management inc. purchased a new stake in West Fraser Timber during the 1st quarter valued at about $15,148,000. Accordant Advisory Group Inc purchased a new stake in West Fraser Timber during the 1st quarter valued at about $43,000. Maryland State Retirement & Pension System grew its position in West Fraser Timber by 1.4% during the 1st quarter. Maryland State Retirement & Pension System now owns 36,053 shares of the company’s stock valued at $3,116,000 after purchasing an additional 487 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in West Fraser Timber by 36.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,185 shares of the company’s stock valued at $448,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in West Fraser Timber during the 1st quarter valued at about $103,000. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. West Fraser Timber’s payout ratio is -49.59%.

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.