West Fraser Timber (NYSE:WFG – Free Report) had its price target boosted by Royal Bank Of Canada from $80.00 to $85.00 in a report issued on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.
A number of other equities research analysts have also recently issued reports on WFG. Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a report on Monday, April 20th. Zacks Research lowered West Fraser Timber from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Fraser Mackenzie cut their price objective on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 1st. TD Securities restated a “buy” rating and set a $86.00 target price on shares of West Fraser Timber in a research note on Friday, May 1st. Finally, Raymond James Financial lowered West Fraser Timber from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $85.00 to $75.00 in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.60.
View Our Latest Stock Report on West Fraser Timber
West Fraser Timber Price Performance
West Fraser Timber (NYSE:WFG – Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($1.17). The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%. On average, sell-side analysts expect that West Fraser Timber will post -3.97 earnings per share for the current year.
West Fraser Timber Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Thursday, June 25th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.28 annualized dividend and a yield of 1.8%. West Fraser Timber’s dividend payout ratio is -8.51%.
Institutional Trading of West Fraser Timber
A number of hedge funds have recently modified their holdings of WFG. Parallel Advisors LLC increased its position in shares of West Fraser Timber by 72.2% during the first quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock valued at $29,000 after purchasing an additional 184 shares during the period. EFG International AG bought a new position in West Fraser Timber in the fourth quarter worth $31,000. Physician Wealth Advisors Inc. lifted its position in West Fraser Timber by 177.0% in the first quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock worth $38,000 after purchasing an additional 370 shares during the period. Aegis Financial Corp acquired a new stake in West Fraser Timber during the first quarter worth $205,000. Finally, Jain Global LLC acquired a new stake in West Fraser Timber during the third quarter worth $224,000. Institutional investors own 40.23% of the company’s stock.
About West Fraser Timber
West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.
Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.
Featured Articles
- Five stocks we like better than West Fraser Timber
- Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit
- Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
- Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises
- 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks
Receive News & Ratings for West Fraser Timber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Fraser Timber and related companies with MarketBeat.com's FREE daily email newsletter.
