Raymond James Analysts Increase Earnings Estimates for WFG

West Fraser Timber Co. Ltd. (NYSE:WFG) – Investment analysts at Raymond James upped their FY2024 EPS estimates for West Fraser Timber in a research note issued on Monday, January 20th. Raymond James analyst D. Swetlishoff now forecasts that the company will post earnings per share of $1.59 for the year, up from their prior forecast of $0.95. Raymond James has a “Moderate Buy” rating and a $115.00 price target on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $1.59 per share. Raymond James also issued estimates for West Fraser Timber’s FY2025 earnings at $5.08 EPS and FY2026 earnings at $9.94 EPS.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the business earned $1.81 EPS.

Several other equities research analysts also recently weighed in on the stock. Scotiabank lifted their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $113.60.

West Fraser Timber Stock Up 1.3 %

Shares of NYSE WFG opened at $92.02 on Wednesday. West Fraser Timber has a twelve month low of $73.91 and a twelve month high of $102.40. The firm has a fifty day simple moving average of $90.52 and a 200 day simple moving average of $89.94. The company has a market capitalization of $7.15 billion, a PE ratio of -71.89 and a beta of 1.22.

West Fraser Timber Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were issued a dividend of $0.32 per share. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Friday, December 27th. West Fraser Timber’s dividend payout ratio (DPR) is currently -100.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Smead Capital Management Inc. grew its holdings in shares of West Fraser Timber by 5.1% during the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock valued at $11,507,000 after buying an additional 5,743 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in West Fraser Timber during the second quarter worth about $1,862,000. Janus Henderson Group PLC boosted its holdings in West Fraser Timber by 383.7% during the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock worth $7,296,000 after purchasing an additional 59,347 shares during the last quarter. Cerity Partners LLC boosted its holdings in West Fraser Timber by 128.0% during the third quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock worth $24,087,000 after purchasing an additional 138,871 shares during the last quarter. Finally, Pacifica Partners Inc. boosted its holdings in West Fraser Timber by 816.2% during the third quarter. Pacifica Partners Inc. now owns 13,386 shares of the company’s stock worth $1,306,000 after purchasing an additional 11,925 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

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.