FY2024 Earnings Estimate for WFG Issued By Raymond James

West Fraser Timber Co. Ltd. (NYSE:WFG) – Research analysts at Raymond James cut their FY2024 earnings per share estimates for shares of West Fraser Timber in a research report issued to clients and investors on Monday, October 21st. Raymond James analyst D. Swetlishoff now expects that the company will post earnings of $1.73 per share for the year, down from their previous forecast 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.

WFG has been the subject of a number of other reports. BMO Capital Markets boosted their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada upped their price objective on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Scotiabank increased their target price on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Friday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $111.60.

West Fraser Timber Stock Up 2.0 %

Shares of West Fraser Timber stock opened at $97.43 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. West Fraser Timber has a 12 month low of $64.11 and a 12 month high of $102.40. The business has a fifty day simple moving average of $93.14 and a 200 day simple moving average of $84.51. The stock has a market cap of $7.68 billion, a PE ratio of -80.52 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data 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 net margin of 2.23% and a return on equity of 3.83%. During the same quarter in the previous year, the firm posted $1.81 EPS.

West Fraser Timber Cuts Dividend

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

Hedge Funds Weigh In On West Fraser Timber

A number of hedge funds have recently added to or reduced their stakes in the stock. Park Place Capital Corp purchased a new position in shares of West Fraser Timber in the 2nd quarter worth approximately $31,000. Signaturefd LLC lifted its position in shares of West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of West Fraser Timber during the second quarter worth $44,000. UniSuper Management Pty Ltd raised its position in shares of West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after buying an additional 400 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of West Fraser Timber in the first quarter worth $103,000. Institutional investors and hedge funds 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.