West Fraser Timber Co. Ltd. (WFG) To Go Ex-Dividend on June 26th

West Fraser Timber Co. Ltd. (NYSE:WFG) declared a quarterly dividend on Wednesday, June 11th, RTT News reports. Stockholders of record on Thursday, June 26th will be paid a dividend of 0.32 per share on Monday, July 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, June 26th.

West Fraser Timber has a payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect West Fraser Timber to earn $7.53 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 17.0%.

West Fraser Timber Stock Up 3.5%

NYSE:WFG opened at $75.70 on Tuesday. West Fraser Timber has a 12-month low of $69.48 and a 12-month high of $102.40. The firm has a market capitalization of $5.82 billion, a PE ratio of -445.26 and a beta of 1.17. The firm has a 50-day moving average price of $74.30 and a 200 day moving average price of $79.62.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). West Fraser Timber had a return on equity of 0.99% and a net margin of 0.03%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.53 billion. On average, research analysts expect that West Fraser Timber will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WFG. Wall Street Zen raised shares of West Fraser Timber from a “sell” rating to a “hold” rating in a report on Saturday, June 7th. Raymond James Financial lowered their price target on shares of West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Royal Bank Of Canada lowered their price target on shares of West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, TD Securities lowered their price target on shares of West Fraser Timber from $99.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $100.40.

Hedge Funds Weigh In On West Fraser Timber

An institutional investor recently raised its position in West Fraser Timber stock. Goldman Sachs Group Inc. raised its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 230,878 shares of the company’s stock after acquiring an additional 6,640 shares during the quarter. Goldman Sachs Group Inc. owned about 0.30% of West Fraser Timber worth $17,764,000 as of its most recent SEC filing. 40.23% of the stock is owned by institutional investors.

West Fraser Timber Company Profile

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.