FY2024 Earnings Forecast for WFG Issued By Raymond James

West Fraser Timber Co. Ltd. (NYSE:WFG) – Analysts at Raymond James raised their FY2024 EPS estimates for West Fraser Timber in a research report issued to clients and investors on Monday, January 20th. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings of $1.59 per share for the year, up from their previous forecast of $0.95. Raymond James currently has a “Moderate Buy” rating and a $115.00 price objective on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $0.95 per share. Raymond James also issued estimates for West Fraser Timber’s FY2025 earnings at $5.08 EPS and FY2026 earnings at $9.94 EPS.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. During the same period in the prior year, the business posted $1.81 EPS.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets upped their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank upped their target price on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, West Fraser Timber presently has an average rating of “Buy” and an average target price of $113.60.

West Fraser Timber Stock Down 1.4 %

Shares of WFG opened at $90.75 on Wednesday. The business has a 50-day simple moving average of $90.53 and a two-hundred day simple moving average of $89.92. The stock has a market cap of $7.05 billion, a PE ratio of -70.90 and a beta of 1.22. West Fraser Timber has a 12-month low of $73.91 and a 12-month high of $102.40.

West Fraser Timber Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were paid a $0.32 dividend. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Friday, December 27th. West Fraser Timber’s payout ratio is currently -100.00%.

Institutional Trading of West Fraser Timber

Several hedge funds and other institutional investors have recently modified their holdings of WFG. FMR LLC lifted its holdings in West Fraser Timber by 22.5% during the 3rd quarter. FMR LLC now owns 1,447,823 shares of the company’s stock worth $141,047,000 after purchasing an additional 266,298 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of West Fraser Timber by 37.1% in the third quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock worth $91,429,000 after buying an additional 254,220 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of West Fraser Timber by 7.5% in the third quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company’s stock worth $55,683,000 after buying an additional 39,651 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of West Fraser Timber by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 305,316 shares of the company’s stock valued at $29,777,000 after acquiring an additional 4,945 shares during the period. Finally, Cerity Partners LLC grew its stake in West Fraser Timber by 128.0% during the third quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock valued at $24,087,000 after acquiring an additional 138,871 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

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.