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

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

West Fraser Timber Stock Performance

Shares of NYSE WFG traded down $0.42 during trading on Thursday, hitting $83.37. 22,873 shares of the company were exchanged, compared to its average volume of 166,157. West Fraser Timber has a 12-month low of $73.91 and a 12-month high of $102.40. The company has a fifty day moving average price of $87.99 and a 200-day moving average price of $90.77. The firm has a market capitalization of $6.48 billion, a PE ratio of -64.86 and a beta of 1.22.

West Fraser Timber Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were issued a $0.32 dividend. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Friday, December 27th. West Fraser Timber’s dividend payout ratio is presently -100.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WFG shares. BMO Capital Markets increased their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Scotiabank decreased their price objective on 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. Finally, Raymond James lowered their target price on shares of West Fraser Timber from $120.00 to $115.00 in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $111.40.

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.