Zacks: Brokerages Anticipate West Fraser Timber Co. Ltd. (NYSE:WFG) Will Post Earnings of $6.99 Per Share

Wall Street brokerages forecast that West Fraser Timber Co. Ltd. (NYSE:WFGGet Rating) will post $6.99 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for West Fraser Timber’s earnings. West Fraser Timber reported earnings per share of $12.32 in the same quarter last year, which indicates a negative year-over-year growth rate of 43.3%. The business is scheduled to announce 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 year. For the next financial year, analysts anticipate that the business will post earnings of $13.74 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover West Fraser Timber.

West Fraser Timber (NYSE:WFGGet Rating) last posted its earnings results on Thursday, April 28th. The company reported $10.25 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the company posted $6.96 earnings per share. West Fraser Timber’s revenue for the quarter was up 32.7% compared to the same quarter last year.

Several brokerages recently commented on WFG. TD Securities cut their price target on shares of West Fraser Timber from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. Zacks Investment Research raised shares of West Fraser Timber from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Wednesday, April 13th. Finally, Scotiabank lifted their price target on shares of West Fraser Timber from C$143.00 to C$147.00 in a research report on Wednesday, February 16th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, West Fraser Timber presently has an average rating of “Buy” and an average price target of $133.93.

A number of large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in West Fraser Timber in the fourth quarter valued at $372,878,000. Vanguard Group Inc. increased its holdings in shares of West Fraser Timber by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,212,954 shares of the company’s stock valued at $264,845,000 after acquiring an additional 47,956 shares during the last quarter. FIL Ltd raised its position in shares of West Fraser Timber by 17.0% during the 3rd quarter. FIL Ltd now owns 3,087,772 shares of the company’s stock worth $260,070,000 after acquiring an additional 448,538 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in West Fraser Timber by 902.1% during 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 last quarter. Finally, Impala Asset Management LLC boosted 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 valued at $118,155,000 after purchasing an additional 155,275 shares in the last quarter. 74.44% of the stock is currently owned by hedge funds and other institutional investors.

NYSE WFG opened at $86.00 on Friday. The company has a fifty day simple moving average of $86.36 and a two-hundred day simple moving average of $89.37. The stock has a market cap of $8.69 billion, a P/E ratio of 2.88 and a beta of -0.32. The company has a current ratio of 3.55, a quick ratio of 2.35 and a debt-to-equity ratio of 0.06. West Fraser Timber has a 12-month low of $64.72 and a 12-month high of $102.61.

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 5th. Investors of record on Friday, March 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 17th. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.16. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. West Fraser Timber’s dividend payout ratio (DPR) is 3.34%.

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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