TD Securities Has Lowered Expectations for Western Forest Products (TSE:WEF) Stock Price

Western Forest Products (TSE:WEF) had its price target cut by investment analysts at TD Securities from C$0.55 to C$0.50 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price target indicates a potential upside of 8.70% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada decreased their price target on Western Forest Products from C$0.80 to C$0.70 in a report on Thursday, July 11th. CIBC reduced their target price on shares of Western Forest Products from C$0.60 to C$0.50 in a research note on Thursday, July 18th.

Western Forest Products Stock Performance

Shares of TSE WEF opened at C$0.46 on Friday. Western Forest Products has a 1-year low of C$0.41 and a 1-year high of C$0.77. The company has a 50-day moving average of C$0.49 and a two-hundred day moving average of C$0.48. The company has a market cap of C$145.71 million, a PE ratio of -3.29, a P/E/G ratio of 0.32 and a beta of 1.81. The company has a current ratio of 2.97, a quick ratio of 0.73 and a debt-to-equity ratio of 18.43.

Western Forest Products (TSE:WEF) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C($0.06) earnings per share for the quarter, missing the consensus estimate of C($0.03) by C($0.03). Western Forest Products had a negative return on equity of 7.64% and a negative net margin of 4.13%. The company had revenue of C$241.70 million during the quarter, compared to the consensus estimate of C$242.00 million. As a group, equities analysts expect that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

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.