Raymond James Equities Analysts Increase Earnings Estimates for West Fraser Timber Co. Ltd. (NYSE:WFG)


West Fraser Timber Co. Ltd. (NYSE:WFGFree Report) – Investment analysts at Raymond James upped their FY2024 earnings estimates for West Fraser Timber in a research report issued on Wednesday, April 3rd. Raymond James analyst D. Swetlishoff now expects that the company will post earnings per share of $6.38 for the year, up from their previous forecast of $5.51. Raymond James currently has a “Strong-Buy” rating and a $105.00 target price on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $4.10 per share.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $97.00 price target on shares of West Fraser Timber in a report on Thursday, March 28th. Scotiabank set a $100.00 price objective on shares of West Fraser Timber and gave the stock an “outperform” rating in a report on Monday, January 22nd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $104.92.

Get Our Latest Report on WFG

West Fraser Timber Price Performance

West Fraser Timber stock opened at $81.40 on Monday. The stock has a market cap of $6.47 billion, a P/E ratio of -37.86 and a beta of 1.15. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $81.29 and a 200 day moving average price of $77.97. West Fraser Timber has a 12-month low of $64.11 and a 12-month high of $90.17.

West Fraser Timber (NYSE:WFGGet Free Report) last issued its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. The business had revenue of $1.51 billion for the quarter.

West Fraser Timber Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Thursday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is -27.91%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its position in shares of West Fraser Timber by 15.0% during the first quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock worth $217,000 after purchasing an additional 344 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of West Fraser Timber by 32.0% during the first quarter. JPMorgan Chase & Co. now owns 53,051 shares of the company’s stock worth $4,373,000 after buying an additional 12,853 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of West Fraser Timber by 41.6% during the first quarter. Bank of New York Mellon Corp now owns 165,617 shares of the company’s stock worth $13,651,000 after buying an additional 48,652 shares during the period. Citigroup Inc. increased its position in West Fraser Timber by 526.2% in the 1st quarter. Citigroup Inc. now owns 21,798 shares of the company’s stock valued at $1,795,000 after acquiring an additional 18,317 shares during the period. Finally, BlackRock Inc. lifted its position in West Fraser Timber by 286.4% during the 1st quarter. BlackRock Inc. now owns 89,586 shares of the company’s stock worth $7,385,000 after acquiring an additional 66,401 shares during the period. 40.23% of the stock is owned by hedge funds and other institutional investors.

About West Fraser Timber

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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.

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