Scotiabank Lowers Earnings Estimates for West Fraser Timber

West Fraser Timber Co. Ltd. (TSE:WFG) – Investment analysts at Scotiabank dropped their Q3 2024 earnings estimates for shares of West Fraser Timber in a report released on Monday, October 21st. Scotiabank analyst B. Isaacson now expects that the company will earn ($0.62) per share for the quarter, down from their prior forecast of ($0.22). The consensus estimate for West Fraser Timber’s current full-year earnings is $8.12 per share.

West Fraser Timber (TSE:WFG) last announced its quarterly earnings results on Wednesday, July 24th. The company reported C$1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.76 by C($0.12). West Fraser Timber had a net margin of 2.21% and a return on equity of 1.98%. The firm had revenue of C$2.33 billion for the quarter, compared to analyst estimates of C$2.21 billion.

A number of other research firms also recently weighed in on WFG. CIBC raised their price target on shares of West Fraser Timber from C$125.00 to C$138.00 and gave the company an “outperform” rating in a report on Monday, July 29th. BMO Capital Markets upgraded West Fraser Timber to a “strong-buy” rating in a report on Tuesday, July 30th.

West Fraser Timber Price Performance

TSE WFG opened at C$132.46 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.33 and a debt-to-equity ratio of 7.39. The stock has a market capitalization of C$10.34 billion, a PE ratio of 58.10 and a beta of 2.03. West Fraser Timber has a 12-month low of C$88.61 and a 12-month high of C$141.27. The company has a 50 day moving average price of C$126.42 and a two-hundred day moving average price of C$115.40.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.28 annualized dividend and a yield of 0.97%. West Fraser Timber’s dividend payout ratio (DPR) is presently 75.88%.

West Fraser Timber Company Profile

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.