West Fraser Timber (NYSE:WFG) Posts Earnings Results, Beats Expectations By $0.63 EPS

West Fraser Timber (NYSE:WFG) released its earnings results on Wednesday. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.55) by $0.63, Zacks reports. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%.

West Fraser Timber Price Performance

WFG stock traded down $1.21 during midday trading on Wednesday, reaching $83.87. 212,629 shares of the company’s stock traded hands, compared to its average volume of 171,912. West Fraser Timber has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The business has a 50-day moving average price of $88.20 and a two-hundred day moving average price of $90.81. The company has a market capitalization of $6.52 billion, a P/E ratio of -65.52 and a beta of 1.22.

West Fraser Timber Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, December 27th. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s dividend payout ratio is -100.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WFG. Raymond James cut their price objective on shares of West Fraser Timber from $120.00 to $115.00 in a report on Thursday, January 30th. BMO Capital Markets increased their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Scotiabank decreased their price target on shares of West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $111.40.

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.