West Fraser Timber Co. Ltd. (TSE:WFG – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$131.25 and last traded at C$131.25, with a volume of 9302 shares trading hands. The stock had previously closed at C$130.23.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. BMO Capital Markets raised shares of West Fraser Timber to a “strong-buy” rating in a research note on Tuesday, July 30th. CIBC raised their target price on shares of West Fraser Timber from C$125.00 to C$138.00 and gave the company an “outperform” rating in a research report on Monday, July 29th.
Read Our Latest Report on West Fraser Timber
West Fraser Timber Price Performance
West Fraser Timber (TSE:WFG – Get Free Report) last announced 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). West Fraser Timber had a return on equity of 1.98% and a net margin of 2.21%. The business had revenue of C$2.33 billion for the quarter, compared to analyst estimates of C$2.21 billion. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 8.096875 EPS for the current fiscal year.
West Fraser Timber Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.97%. West Fraser Timber’s dividend payout ratio is currently 75.98%.
West Fraser Timber Company Profile
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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