Raymond James Analysts Decrease Earnings Estimates for WFG

West Fraser Timber Co. Ltd. (NYSE:WFG) – Stock analysts at Raymond James lowered their FY2024 earnings per share estimates for shares of West Fraser Timber in a research note issued to investors on Monday, October 21st. Raymond James analyst D. Swetlishoff now forecasts that the company will post earnings of $1.73 per share for the year, down from their prior forecast of $2.57. The consensus estimate for West Fraser Timber’s current full-year earnings is $2.03 per share. Raymond James also issued estimates for West Fraser Timber’s FY2025 earnings at $6.07 EPS.

Several other equities analysts have also recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets upped their target price on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, West Fraser Timber presently has an average rating of “Buy” and an average price target of $107.60.

West Fraser Timber Stock Up 1.0 %

Shares of West Fraser Timber stock opened at $95.50 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. West Fraser Timber has a 12-month low of $64.11 and a 12-month high of $102.40. The company has a market cap of $7.45 billion, a P/E ratio of 61.22 and a beta of 1.16. The company’s fifty day simple moving average is $92.71 and its two-hundred day simple moving average is $84.32.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.09). West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the firm posted ($0.03) earnings per share. West Fraser Timber’s quarterly revenue was up 6.0% on a year-over-year basis.

Hedge Funds Weigh In On West Fraser Timber

Several institutional investors and hedge funds have recently modified their holdings of WFG. Toronto Dominion Bank grew its position in West Fraser Timber by 0.4% during the 2nd quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock valued at $2,309,000 after purchasing an additional 125 shares during the last quarter. Signaturefd LLC grew its holdings in shares of West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $38,000 after buying an additional 186 shares during the last quarter. Inspire Advisors LLC increased its position in shares of West Fraser Timber by 4.3% during the second quarter. Inspire Advisors LLC now owns 4,592 shares of the company’s stock valued at $353,000 after acquiring an additional 189 shares in the last quarter. Moors & Cabot Inc. raised its holdings in West Fraser Timber by 4.7% in the 2nd quarter. Moors & Cabot Inc. now owns 4,270 shares of the company’s stock worth $328,000 after acquiring an additional 190 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. lifted its position in West Fraser Timber by 6.9% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock valued at $300,000 after acquiring an additional 224 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were paid a $0.237 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 0.99%. West Fraser Timber’s payout ratio is currently 60.90%.

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.