Share Repurchase Plan Approved by Weyerhaeuser (NYSE:WY)

Weyerhaeuser (NYSE:WY) declared that its board has initiated a stock buyback program on Thursday, May 8th, RTT News reports. The company plans to buyback $1.00 billion in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Weyerhaeuser Stock Up 0.4 %

Weyerhaeuser stock opened at $25.91 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. Weyerhaeuser has a 1-year low of $24.10 and a 1-year high of $34.03. The company has a fifty day simple moving average of $27.49 and a 200 day simple moving average of $29.26. The company has a market cap of $18.79 billion, a P/E ratio of 47.11, a price-to-earnings-growth ratio of 4.74 and a beta of 1.15.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company earned $0.16 EPS. Weyerhaeuser’s revenue for the quarter was down 4.9% compared to the same quarter last year. Research analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.24%. Weyerhaeuser’s dividend payout ratio is currently 168.00%.

Analyst Upgrades and Downgrades

WY has been the subject of a number of analyst reports. JPMorgan Chase & Co. started coverage on shares of Weyerhaeuser in a report on Tuesday, April 8th. They set an “overweight” rating and a $31.00 price objective for the company. Truist Financial lowered their price objective on shares of Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, CIBC cut their price objective on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.75.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.