West Fraser Timber Co. Ltd. (NYSE:WFG) Expected to Post Earnings of $6.99 Per Share

Equities analysts expect West Fraser Timber Co. Ltd. (NYSE:WFGGet Rating) to announce earnings of $6.99 per share for the current quarter, Zacks reports. Zero analysts have provided estimates for West Fraser Timber’s earnings. West Fraser Timber posted earnings per share of $12.32 during the same quarter last year, which suggests a negative year over year growth rate of 43.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that West Fraser Timber will report full-year earnings of $25.02 per share for the current financial year. For the next year, analysts forecast that the business will report earnings of $13.74 per share. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for West Fraser Timber.

West Fraser Timber (NYSE:WFGGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $10.25 EPS for the quarter, topping the consensus estimate of $7.84 by $2.41. West Fraser Timber had a net margin of 29.88% and a return on equity of 42.84%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the previous year, the firm posted $6.96 EPS. The company’s revenue for the quarter was up 32.7% on a year-over-year basis.

A number of research analysts recently commented on the stock. Scotiabank upped their price target on shares of West Fraser Timber from C$143.00 to C$147.00 in a research note on Wednesday, February 16th. Zacks Investment Research upgraded shares of West Fraser Timber from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Wednesday, April 13th. Finally, TD Securities decreased their target price on shares of West Fraser Timber from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $133.93.

Shares of West Fraser Timber stock traded down $0.53 during trading on Friday, hitting $90.25. 9,267 shares of the stock were exchanged, compared to its average volume of 372,634. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 3.04 and a beta of -0.32. The company has a fifty day moving average price of $86.37 and a 200-day moving average price of $89.44. West Fraser Timber has a 1-year low of $64.72 and a 1-year high of $102.61. The company has a current ratio of 3.55, a quick ratio of 2.35 and a debt-to-equity ratio of 0.06.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 5th. Stockholders of record on Friday, March 18th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.16. West Fraser Timber’s dividend payout ratio (DPR) is presently 3.34%.

Several hedge funds have recently added to or reduced their stakes in WFG. Norges Bank acquired a new stake in West Fraser Timber in the fourth quarter worth $372,878,000. Vanguard Group Inc. grew its holdings in West Fraser Timber by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,212,954 shares of the company’s stock worth $264,845,000 after purchasing an additional 47,956 shares during the period. FIL Ltd grew its holdings in West Fraser Timber by 17.0% in the third quarter. FIL Ltd now owns 3,087,772 shares of the company’s stock worth $260,070,000 after purchasing an additional 448,538 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in West Fraser Timber by 902.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,773,041 shares of the company’s stock worth $149,156,000 after purchasing an additional 1,596,105 shares during the period. Finally, Impala Asset Management LLC grew its holdings in West Fraser Timber by 14.3% in the fourth quarter. Impala Asset Management LLC now owns 1,238,439 shares of the company’s stock worth $118,155,000 after purchasing an additional 155,275 shares during the period. 74.44% of the stock is owned by hedge funds and other institutional investors.

About West Fraser Timber (Get Rating)

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 and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products.

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