Raymond James Has Lowered Expectations for Western Forest Products (TSE:WEF) Stock Price

Western Forest Products (TSE:WEF) had its price objective decreased by research analysts at Raymond James from C$0.60 to C$0.50 in a research report issued on Tuesday,BayStreet.CA reports. Raymond James’ target price suggests a potential upside of 17.65% from the company’s previous close. Raymond James also issued estimates for Western Forest Products’ FY2024 earnings at ($0.12) EPS, FY2025 earnings at ($0.15) EPS and FY2026 earnings at ($0.10) EPS.

Separately, TD Securities lowered their price target on shares of Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating for the company in a report on Friday, November 8th.

Western Forest Products Price Performance

Western Forest Products stock opened at C$0.43 on Tuesday. The business’s fifty day moving average is C$0.43 and its two-hundred day moving average is C$0.45. The company has a debt-to-equity ratio of 18.43, a quick ratio of 0.73 and a current ratio of 2.97. The firm has a market cap of C$134.62 million, a P/E ratio of -3.04, a P/E/G ratio of 0.32 and a beta of 1.81. Western Forest Products has a 52 week low of C$0.39 and a 52 week high of C$0.72.

Western Forest Products (TSE:WEF) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.03). The company had revenue of C$241.70 million for the quarter, compared to analyst estimates of C$242.00 million. Western Forest Products had a negative return on equity of 7.64% and a negative net margin of 4.13%. Equities research analysts forecast that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Western Forest Products Company Profile

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.