Western Forest Products (TSE:WEF) Trading Down 2.3% – Here’s Why

Western Forest Products Inc. (TSE:WEF) shares were down 2.3% during mid-day trading on Friday . The company traded as low as C$0.43 and last traded at C$0.43. Approximately 569,441 shares changed hands during mid-day trading, an increase of 49% from the average daily volume of 382,898 shares. The stock had previously closed at C$0.44.

Analyst Upgrades and Downgrades

Separately, TD Securities cut their price objective on shares of Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating for the company in a research report on Friday, November 8th.

Western Forest Products Price Performance

The stock has a 50-day simple moving average of C$0.49 and a 200 day simple moving average of C$0.47. The company has a market cap of C$136.20 million, a PE ratio of -3.07, a P/E/G ratio of 0.32 and a beta of 1.81. The company has a quick ratio of 0.73, a current ratio of 2.97 and a debt-to-equity ratio of 18.43.

Western Forest Products (TSE:WEF) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.03). The company had revenue of C$241.70 million during the quarter, compared to analysts’ expectations of C$242.00 million. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. Equities analysts expect that Western Forest Products Inc. will post 0.004992 EPS for the current year.

Western Forest Products Company Profile

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.