Western Forest Products Inc. (TSE:WEF – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$0.55 and last traded at C$0.56, with a volume of 344560 shares trading hands. The stock had previously closed at C$0.55.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on WEF. Scotiabank set a C$0.80 price objective on shares of Western Forest Products and gave the stock a “sector perform” rating in a report on Monday, January 22nd. TD Securities cut their price target on Western Forest Products from C$0.75 to C$0.65 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Finally, CIBC lowered their price objective on Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating for the company in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Western Forest Products currently has a consensus rating of “Hold” and an average price target of C$0.73.
Read Our Latest Stock Analysis on Western Forest Products
Western Forest Products Stock Performance
Western Forest Products (TSE:WEF – Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) EPS for the quarter, beating the consensus estimate of C($0.05) by C$0.01. The firm had revenue of C$246.60 million during the quarter. Western Forest Products had a negative net margin of 6.73% and a negative return on equity of 11.50%. Equities research analysts anticipate that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.
Insiders Place Their Bets
In other Western Forest Products news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of C$0.63 per share, for a total transaction of C$63,000.00. Insiders own 0.51% of the company’s stock.
About Western Forest Products
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.
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