West Fraser Timber (TSE:WFG) Rating Lowered to Moderate Buy at Raymond James

Raymond James cut shares of West Fraser Timber (TSE:WFG) from a strong-buy rating to a moderate buy rating in a research note issued to investors on Monday,Zacks.com reports. Raymond James also issued estimates for West Fraser Timber’s FY2024 earnings at $2.29 EPS, FY2025 earnings at $7.32 EPS and FY2026 earnings at $14.31 EPS.

Separately, CIBC increased their target price on West Fraser Timber from C$164.00 to C$171.00 in a report on Wednesday, January 15th.

West Fraser Timber Price Performance

Shares of West Fraser Timber stock opened at C$130.53 on Monday. The company has a 50-day simple moving average of C$128.67 and a two-hundred day simple moving average of C$124.04. West Fraser Timber has a twelve month low of C$100.84 and a twelve month high of C$141.27. The stock has a market capitalization of C$10.19 billion, a price-to-earnings ratio of 57.25 and a beta of 2.03. The company has a quick ratio of 2.10, a current ratio of 2.33 and a debt-to-equity ratio of 7.39.

West Fraser Timber (TSE:WFG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported C($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.62) by C($0.79). West Fraser Timber had a net margin of 2.21% and a return on equity of 1.98%. The company had revenue of C$1.96 billion during the quarter, compared to the consensus estimate of C$2.01 billion. Analysts forecast that West Fraser Timber will post 8.1184776 EPS for the current year.

West Fraser Timber Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, January 14th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. West Fraser Timber’s payout ratio is presently 75.88%.

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.