West Fraser Timber (NYSE:WFG) Releases Quarterly Earnings Results

West Fraser Timber (NYSE:WFG) issued its quarterly earnings results on Wednesday. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.08), Zacks reports. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. West Fraser Timber had a negative return on equity of 9.67% and a negative net margin of 21.86%.

West Fraser Timber Trading Down 4.7%

Shares of WFG traded down $3.14 during mid-day trading on Thursday, hitting $63.39. The company had a trading volume of 92,985 shares, compared to its average volume of 213,542. West Fraser Timber has a 1-year low of $57.34 and a 1-year high of $76.99. The business’s 50-day simple moving average is $67.58 and its 200-day simple moving average is $66.80. The stock has a market cap of $4.96 billion, a PE ratio of -4.22 and a beta of 1.00. The company has a quick ratio of 0.66, a current ratio of 1.84 and a debt-to-equity ratio of 0.05.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. West Fraser Timber’s dividend payout ratio (DPR) is currently -8.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Raymond James Financial downgraded shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $85.00 to $75.00 in a research note on Thursday, April 23rd. Zacks Research upgraded West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a research note on Friday, July 17th. TD Cowen decreased their price objective on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Fraser Mackenzie lowered their price objective on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $83.60.

Hedge Funds Weigh In On West Fraser Timber

Large investors have recently bought and sold shares of the stock. EFG International AG acquired a new position in shares of West Fraser Timber in the 4th quarter valued at $31,000. Jain Global LLC acquired a new stake in shares of West Fraser Timber during the 3rd quarter worth $224,000. Sei Investments Co. increased its holdings in shares of West Fraser Timber by 29.8% during the 2nd quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock worth $291,000 after buying an additional 912 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of West Fraser Timber in the 3rd quarter worth $321,000. Finally, Inspire Advisors LLC raised its position in shares of West Fraser Timber by 9.0% in the 4th quarter. Inspire Advisors LLC now owns 5,967 shares of the company’s stock worth $365,000 after buying an additional 491 shares during the period. Hedge funds and other institutional investors own 40.23% of the company’s stock.

About West Fraser Timber

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.