West Fraser Timber (TSE:WFG) Hits New 12-Month High – Here’s What Happened

West Fraser Timber Co. Ltd. (TSE:WFGGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$140.45 and last traded at C$140.24, with a volume of 12488 shares trading hands. The stock had previously closed at C$139.02.

Wall Street Analyst Weigh In

Several brokerages have commented on WFG. CIBC boosted their target price on West Fraser Timber from C$125.00 to C$138.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets raised shares of West Fraser Timber to a “strong-buy” rating in a research note on Tuesday, July 30th.

Read Our Latest Analysis on WFG

West Fraser Timber Stock Up 1.3 %

The company has a debt-to-equity ratio of 7.39, a quick ratio of 2.10 and a current ratio of 2.33. The firm’s 50 day moving average price is C$123.88 and its two-hundred day moving average price is C$114.38. The company has a market cap of C$11.00 billion, a P/E ratio of 61.65 and a beta of 2.03.

West Fraser Timber (TSE:WFGGet Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported C$1.64 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.76 by C($0.12). The firm had revenue of C$2.33 billion for the quarter, compared to analyst estimates of C$2.21 billion. West Fraser Timber had a return on equity of 1.98% and a net margin of 2.21%. Equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 8.1184776 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a $0.32 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.28 annualized dividend and a yield of 0.91%. West Fraser Timber’s payout ratio is 75.88%.

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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