Scotiabank Has Negative Outlook for TSE:WEF Q3 Earnings

Western Forest Products Inc. (TSE:WEF) – Research analysts at Scotiabank reduced their Q3 2024 EPS estimates for Western Forest Products in a report issued on Monday, October 21st. Scotiabank analyst B. Isaacson now anticipates that the company will earn ($0.03) per share for the quarter, down from their prior estimate of ($0.01). The consensus estimate for Western Forest Products’ current full-year earnings is $0.00 per share.

Western Forest Products (TSE:WEF) last posted its earnings results on Wednesday, July 31st. The company reported C($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.03) by C$0.02. 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$309.50 million for the quarter, compared to analysts’ expectations of C$258.00 million.

A number of other analysts have also commented on WEF. Royal Bank of Canada cut their price target on Western Forest Products from C$0.80 to C$0.70 in a research note on Thursday, July 11th. TD Securities dropped their price objective on shares of Western Forest Products from C$0.60 to C$0.50 in a report on Tuesday, July 23rd. Finally, CIBC reduced their target price on shares of Western Forest Products from C$0.60 to C$0.50 in a report on Thursday, July 18th.

Western Forest Products Price Performance

Western Forest Products has a 52-week low of C$0.41 and a 52-week high of C$0.81. The stock’s fifty day moving average price is C$0.48 and its two-hundred day moving average price is C$0.49. The company has a debt-to-equity ratio of 18.43, a current ratio of 2.97 and a quick ratio of 0.73. The company has a market cap of C$156.79 million, a price-to-earnings ratio of -3.57, a P/E/G ratio of 0.32 and a beta of 1.81.

Western Forest Products Company Profile

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.