Western Forest Products Inc. (TSE:WEF – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$0.49 and traded as high as C$0.53. Western Forest Products shares last traded at C$0.53, with a volume of 157,513 shares traded.
Analysts Set New Price Targets
Several analysts have recently issued reports on WEF shares. TD Securities lowered their price target on shares of Western Forest Products from C$0.60 to C$0.50 in a research report on Tuesday, July 23rd. Royal Bank of Canada lowered their target price on shares of Western Forest Products from C$0.80 to C$0.70 in a report on Thursday, July 11th. Finally, CIBC cut their price target on Western Forest Products from C$0.60 to C$0.50 in a report on Thursday, July 18th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Western Forest Products currently has a consensus rating of “Hold” and an average price target of C$0.65.
Check Out Our Latest Analysis on WEF
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C($0.01) EPS for the quarter, beating the consensus estimate of C($0.03) by C$0.02. The firm had revenue of C$309.50 million during the quarter, compared to the consensus estimate of C$258.00 million. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. Analysts anticipate that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.
About Western Forest Products
Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.
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