West Fraser Timber Co. Ltd. (WFG) to Issue Quarterly Dividend of $0.24 on October 11th

West Fraser Timber Co. Ltd. (NYSE:WFG) announced a quarterly dividend on Tuesday, September 10th, Zacks reports. Investors of record on Thursday, September 26th will be paid a dividend of 0.237 per share on Friday, October 11th. This represents a $0.95 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, September 26th.

West Fraser Timber has raised its dividend payment by an average of 26.2% per year over the last three years. West Fraser Timber has a payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect West Fraser Timber to earn $8.21 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 15.6%.

West Fraser Timber Stock Down 0.4 %

Shares of NYSE WFG opened at $94.71 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. The company has a 50-day moving average price of $86.66 and a 200-day moving average price of $82.22. The stock has a market capitalization of $7.47 billion, a P/E ratio of -78.27 and a beta of 1.16. West Fraser Timber has a 1 year low of $64.11 and a 1 year high of $95.81.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.59 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. On average, equities research analysts forecast that West Fraser Timber will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

WFG has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets boosted their target price on West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, West Fraser Timber presently has a consensus rating of “Buy” and a consensus target price of $105.60.

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.