Western Forest Products (TSE:WEF) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Western Forest Products Inc. (TSE:WEF) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$0.46 and traded as low as C$0.45. Western Forest Products shares last traded at C$0.45, with a volume of 1,172,215 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, TD Securities decreased their price target on shares of Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating for the company in a report on Friday, November 8th.

Western Forest Products Trading Down 2.2 %

The business has a 50-day moving average of C$0.44 and a 200-day moving average of C$0.46. The company has a quick ratio of 0.73, a current ratio of 2.97 and a debt-to-equity ratio of 18.43. The stock has a market cap of C$140.95 million, a price-to-earnings ratio of -3.18, a PEG ratio of 0.32 and a beta of 1.81.

Western Forest Products (TSE:WEF) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.03). Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. The firm had revenue of C$241.70 million for the quarter, compared to analyst estimates of C$242.00 million. As a group, research analysts forecast that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.