FY2024 EPS Estimates for West Fraser Timber Co. Ltd. (NYSE:WFG) Lifted by Scotiabank

West Fraser Timber Co. Ltd. (NYSE:WFGFree Report) – Equities research analysts at Scotiabank upped their FY2024 earnings per share estimates for West Fraser Timber in a report issued on Monday, April 29th. Scotiabank analyst B. Isaacson now anticipates that the company will post earnings of $4.15 per share for the year, up from their prior estimate of $1.81. Scotiabank has a “Outperform” rating and a $100.00 price objective on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $3.56 per share.

WFG has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $97.00 price objective on shares of West Fraser Timber in a report on Thursday, March 28th. Raymond James upped their price objective on West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 6th. Finally, TD Securities upped their price objective on West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, West Fraser Timber currently has a consensus rating of “Buy” and an average price target of $106.25.

Read Our Latest Analysis on West Fraser Timber

West Fraser Timber Price Performance

West Fraser Timber stock opened at $78.36 on Thursday. West Fraser Timber has a 12 month low of $64.11 and a 12 month high of $90.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.33. The business has a 50 day simple moving average of $81.27 and a 200-day simple moving average of $79.05. The stock has a market capitalization of $6.22 billion, a PE ratio of -64.82 and a beta of 1.19.

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

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is -49.59%.

Institutional Trading of West Fraser Timber

Large investors have recently bought and sold shares of the company. Bfsg LLC acquired a new stake in West Fraser Timber in the fourth quarter valued at $42,000. Accordant Advisory Group Inc acquired a new stake in West Fraser Timber in the first quarter valued at $43,000. ICA Group Wealth Management LLC acquired a new stake in West Fraser Timber in the fourth quarter valued at $43,000. Tower Research Capital LLC TRC acquired a new stake in shares of West Fraser Timber during the fourth quarter valued at $78,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of West Fraser Timber during the first quarter valued at $103,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

About West Fraser Timber

(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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Earnings History and Estimates for West Fraser Timber (NYSE:WFG)

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