$ 6.19 EPS expected for West Fraser Timber Co. Ltd. (NYSE: WFG) this quarter
Equity research analysts expect West Fraser Timber Co. Ltd. (NYSE: WFG) reports earnings per share of $ 6.19 for the current quarter, according to Zacks Investment Research. Zero analysts have provided earnings estimates for West Fraser Timber. The company is expected to release its next earnings report after the market closes on Wednesday, October 27.
On average, analysts expect West Fraser Timber to report annual earnings of $ 27.85 per share for the current year. For the next fiscal year, analysts expect the company to post earnings of $ 11.53 per share. Zacks’ EPS calculations are an average based on a survey of sales analysts who follow West Fraser Timber.
West Fraser Timber (NYSE: WFG) last released its quarterly earnings data on Wednesday, July 28. The company reported EPS of $ 12.32 for the quarter, beating Thomson Reuters consensus estimate of $ 11.50 by $ 0.82. The company posted revenue of $ 3.78 billion for the quarter.
A number of equity research analysts have recently commented on WFG stocks. Zacks Investment Research downgraded West Fraser Timber shares from a “buy” rating to a “hold” rating in a report released on Tuesday, September 21. Scotiabank reduced its target price on West Fraser Timber from C $ 142.00 to C $ 141.00 and established an “outperform” rating for the stock in a report released on Thursday, July 29. The Royal Bank of Canada reissued a “buy” rating and set a target price of $ 160.00 on West Fraser Timber shares in a report released on Friday, September 10. CIBC lowered its target price on West Fraser Timber shares from C $ 141.00 to C $ 118.00 and established a “outperformance” rating for the company in a research report released on Tuesday, July 20. Finally, TD Securities increased its price target on West Fraser Timber shares from $ 110.00 to $ 143.00 and assigned the stock a “share purchase list” rating in a report. research published on Friday, July 30. One analyst rated the stock with a conservation rating and four gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $ 123.83.
NYSE: WFG shares traded down $ 0.94 when trading on Monday, reaching $ 84.26. 10,472 shares of the company were traded for an average volume of 288,055. The company has a 50-day moving average price of $ 75.86 and a 200-day moving average price of $ 75.05. West Fraser Timber has a 52 week low of $ 45.03 and a 52 week high of $ 91.53. The company has a market capitalization of $ 8.91 billion and a price-to-earnings ratio of 9.20.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 5. Investors of record on Thursday, September 23 will receive a dividend of $ 0.198 per share. The ex-dividend date of this dividend is Wednesday September 22. This represents an annualized dividend of $ 0.79 and a return of 0.94%. West Fraser Timber’s dividend payout ratio is currently 8.62%.
A number of hedge funds and other institutional investors have recently changed their positions in the company. Bank of America Corp DE increased its holdings of West Fraser Timber shares by 8.8% in the second quarter. Bank of America Corp DE now owns 815,331 shares of the company valued at $ 58,442,000 after purchasing an additional 66,030 shares during the period. Wells Fargo & Company MN increased its position in West Fraser Timber by 215.4% during the 2nd quarter. Wells Fargo & Company MN now owns 324,838 shares of the company valued at $ 23,327,000 after purchasing an additional 221,849 shares during the last quarter. Guardian Capital Advisors LP increased its holdings in West Fraser Timber by 57.1% in the second quarter. Guardian Capital Advisors LP now owns 6,534 shares of the company valued at $ 460,000 after purchasing an additional 2,375 shares during the period. Invesco Ltd. increased its position in West Fraser Timber shares by 10.8% in the second quarter. Invesco Ltd. now owns 363,254 shares of the company valued at $ 26,039,000 after purchasing an additional 35,412 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new equity interest in West Fraser Timber in the second quarter valued at approximately $ 2,236,000. Hedge funds and other institutional investors hold 55.36% of the company’s shares.
West Fraser Timber Company Profile
West Fraser Timber Co Ltd. is a diversified wood products company engaged in the production of lumber, engineered wood products (oriented strand board, laminated veneer, medium density fibreboard, plywood and particles), pulp, newsprint, wood chips, other residues and renewable energies. Its products are used in home construction, repair and renovation, industrial applications, papers, fabrics and box materials.
See also: Why are analyst ratings important in stock trading?
Get a free copy of Zacks’ West Fraser Timber (WFG) research report
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in West Fraser Timber now?
Before you consider West Fraser Timber, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the larger market takes hold of… and West Fraser Timber was not on the list.
While West Fraser Timber currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here