Western Forest Products (TSE:WEF) Posts Earnings Results

Western Forest Products (TSE:WEF – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported C$1.10 earnings per share (EPS) for the quarter, FiscalAI reports. Western Forest Products had a negative return on equity of 22.88% and a negative net margin of 12.23%.The business had revenue of C$239.60 million for the quarter.

Western Forest Products Trading Down 3.3%

Shares of Western Forest Products stock opened at C$17.85 on Thursday. Western Forest Products has a 1 year low of C$10.16 and a 1 year high of C$19.40. The firm has a market cap of C$188.46 million, a PE ratio of -1.67, a PEG ratio of 0.32 and a beta of 0.23. The company has a debt-to-equity ratio of 15.10, a current ratio of 2.63 and a quick ratio of 0.73. The company has a 50 day simple moving average of C$17.80 and a two-hundred day simple moving average of C$15.68.

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Insiders Place Their Bets

In other news, insider Kernwood Limited sold 2,700 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total value of C$51,300.00. Following the transaction, the insider owned 1,900,800 shares of the company’s stock, valued at C$36,115,200. This represents a 0.14% decrease in their position. Also, Director Elizabeth Kernaghan sold 1,800 shares of the firm’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of C$19.05, for a total transaction of C$34,290.00. Following the sale, the director owned 1,889,000 shares in the company, valued at approximately C$35,985,450. This trade represents a 0.10% decrease in their position. Insiders sold a total of 14,200 shares of company stock worth $270,980 in the last three months. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WEF shares. Royal Bank Of Canada upped their price target on Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a research report on Thursday, April 16th. Raymond James Financial increased their target price on shares of Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, TD boosted their price target on shares of Western Forest Products from C$17.00 to C$19.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$17.40.

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Western Forest Products Company Profile

(Get Free Report)

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. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company’s largest markets and contribute the vast majority of its total revenue.

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