West Fraser Timber (NYSE:WFG) Issues Earnings Results, Misses Expectations By $0.87 EPS

West Fraser Timber (NYSE:WFG) posted its quarterly earnings results on Wednesday. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87), Yahoo Finance reports. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the company posted $1.81 EPS.

West Fraser Timber Stock Up 2.0 %

WFG stock opened at $97.43 on Friday. The company has a 50 day moving average of $93.14 and a two-hundred day moving average of $84.51. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. West Fraser Timber has a 12-month low of $64.11 and a 12-month high of $102.40. The company has a market cap of $7.68 billion, a price-to-earnings ratio of -80.52 and a beta of 1.16.

West Fraser Timber Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a dividend of $0.237 per share. This represents a $0.95 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Thursday, September 26th. West Fraser Timber’s payout ratio is presently -77.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WFG shares. Scotiabank boosted their target price on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday. BMO Capital Markets boosted their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Royal Bank of Canada raised their target price on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $111.60.

About West Fraser Timber

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.