Raymond James Has Negative View of TSE:WEF FY2024 Earnings

Western Forest Products Inc. (TSE:WEF) – Analysts at Raymond James lowered their FY2024 EPS estimates for Western Forest Products in a report released on Monday, October 21st. Raymond James analyst D. Swetlishoff now expects that the company will post earnings of ($0.17) per share for the year, down from their previous estimate of ($0.12). The consensus estimate for Western Forest Products’ current full-year earnings is $0.00 per share. Raymond James also issued estimates for Western Forest Products’ FY2025 earnings at ($0.13) EPS.

Western Forest Products (TSE:WEF) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.03) by C$0.02. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. The firm had revenue of C$309.50 million for the quarter, compared to analyst estimates of C$258.00 million.

A number of other equities analysts have also commented on WEF. CIBC decreased their price objective on shares of Western Forest Products from C$0.60 to C$0.50 in a research note on Thursday, July 18th. Royal Bank of Canada decreased their price objective on shares of Western Forest Products from C$0.80 to C$0.70 in a research note on Thursday, July 11th. Finally, TD Securities decreased their price objective on shares of Western Forest Products from C$0.60 to C$0.50 in a research note on Tuesday, July 23rd.

Western Forest Products Trading Down 2.9 %

Western Forest Products stock opened at C$0.50 on Thursday. The company has a 50 day moving average price of C$0.48 and a 200 day moving average price of C$0.49. Western Forest Products has a 52 week low of C$0.41 and a 52 week high of C$0.81. The company has a debt-to-equity ratio of 18.43, a quick ratio of 0.73 and a current ratio of 2.97. The firm has a market capitalization of C$156.79 million, a price-to-earnings ratio of -3.54, a P/E/G ratio of 0.32 and a beta of 1.81.

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.