Scotiabank Lowers Earnings Estimates for West Fraser Timber

West Fraser Timber Co. Ltd. (TSE:WFG) – Analysts at Scotiabank reduced their Q3 2024 EPS estimates for shares of West Fraser Timber in a research note issued to investors on Monday, October 21st. Scotiabank analyst B. Isaacson now expects that the company will earn ($0.62) per share for the quarter, down from their previous forecast of ($0.22). The consensus estimate for West Fraser Timber’s current full-year earnings is $8.12 per share.

West Fraser Timber (TSE:WFG) last posted its earnings results on Wednesday, July 24th. The company reported C$1.64 EPS for the quarter, missing the consensus estimate of C$1.76 by C($0.12). West Fraser Timber had a net margin of 2.21% and a return on equity of 1.98%. The firm had revenue of C$2.33 billion during the quarter, compared to the consensus estimate of C$2.21 billion.

WFG has been the topic of several other reports. CIBC lifted their target price on shares of West Fraser Timber from C$125.00 to C$138.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. BMO Capital Markets upgraded shares of West Fraser Timber to a “strong-buy” rating in a report on Tuesday, July 30th.

West Fraser Timber Stock Performance

TSE:WFG opened at C$130.83 on Thursday. The stock’s 50-day moving average is C$126.15 and its 200-day moving average is C$115.25. West Fraser Timber has a 1-year low of C$88.61 and a 1-year high of C$141.27. The company has a current ratio of 2.33, a quick ratio of 2.10 and a debt-to-equity ratio of 7.39. The stock has a market cap of C$10.22 billion, a P/E ratio of 57.38 and a beta of 2.03.

West Fraser Timber Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. West Fraser Timber’s dividend payout ratio (DPR) is 75.88%.

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.