FY2024 EPS Estimate for West Fraser Timber Cut by Analyst

West Fraser Timber Co. Ltd. (NYSE:WFG) – Raymond James reduced their FY2024 earnings per share estimates for West Fraser Timber in a note issued to investors on Monday, October 21st. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings per share of $1.73 for the year, down from their prior estimate of $2.57. The consensus estimate for West Fraser Timber’s current full-year earnings is $2.03 per share. Raymond James also issued estimates for West Fraser Timber’s FY2025 earnings at $6.07 EPS.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. During the same period in the previous year, the business earned $1.81 earnings per share.

Other analysts have also issued reports about the stock. Scotiabank raised their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Friday. BMO Capital Markets raised their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, 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. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $111.60.

West Fraser Timber Stock Performance

Shares of WFG opened at $97.43 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. West Fraser Timber has a one year low of $64.11 and a one year high of $102.40. The company has a 50-day simple moving average of $93.14 and a two-hundred day simple moving average of $84.51. The firm has a market capitalization of $7.68 billion, a PE ratio of -80.52 and a beta of 1.16.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were issued a $0.237 dividend. This represents a $0.95 annualized dividend and a yield of 0.97%. The ex-dividend date was Thursday, September 26th. West Fraser Timber’s dividend payout ratio is currently -77.69%.

Institutional Trading of West Fraser Timber

Several hedge funds have recently bought and sold shares of WFG. Vanguard Group Inc. raised its position in shares of West Fraser Timber by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,813,970 shares of the company’s stock valued at $240,820,000 after buying an additional 28,399 shares in the last quarter. Addenda Capital Inc. purchased a new stake in shares of West Fraser Timber during the 1st quarter valued at about $328,000. Galibier Capital Management Ltd. purchased a new stake in shares of West Fraser Timber during the 1st quarter valued at about $9,581,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of West Fraser Timber by 49.2% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 73,418 shares of the company’s stock valued at $6,345,000 after buying an additional 24,218 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of West Fraser Timber during the 1st quarter valued at about $103,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

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.