Scotiabank Has Pessimistic Outlook of TSE:WEF Q3 Earnings

Western Forest Products Inc. (TSE:WEF) – Research analysts at Scotiabank reduced their Q3 2024 earnings per share (EPS) estimates for Western Forest Products in a report released on Monday, October 21st. Scotiabank analyst B. Isaacson now forecasts that the company will earn ($0.03) per share for the quarter, down from their previous estimate of ($0.01). The consensus estimate for Western Forest Products’ current full-year earnings is $0.00 per share.

Several other research firms have also issued reports on WEF. Royal Bank of Canada dropped their price objective on Western Forest Products from C$0.80 to C$0.70 in a research note on Thursday, July 11th. CIBC dropped their price target on Western Forest Products from C$0.60 to C$0.50 in a research note on Thursday, July 18th. Finally, TD Securities cut their price target on Western Forest Products from C$0.60 to C$0.50 in a report on Tuesday, July 23rd.

Western Forest Products Stock Performance

Western Forest Products has a one year low of C$0.41 and a one year high of C$0.81. The company has a debt-to-equity ratio of 18.43, a current ratio of 2.97 and a quick ratio of 0.73. The firm has a market cap of C$156.79 million, a P/E ratio of -3.57, a P/E/G ratio of 0.32 and a beta of 1.81. The firm has a 50-day moving average price of C$0.48 and a 200-day moving average price of C$0.49.

Western Forest Products (TSE:WEF) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C($0.01) EPS for the quarter, beating analysts’ consensus estimates of C($0.03) by C$0.02. The company had revenue of C$309.50 million during the quarter, compared to the consensus estimate of C$258.00 million. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%.

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.