West Fraser Timber (NYSE:WFG) Posts Earnings Results, Misses Expectations By $0.91 EPS

West Fraser Timber (NYSE:WFG) posted its earnings results on Wednesday. The company reported ($2.63) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.91), Zacks reports. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.38 billion. West Fraser Timber had a negative return on equity of 2.60% and a negative net margin of 4.35%.

West Fraser Timber Trading Down 1.4%

Shares of WFG stock opened at $66.01 on Friday. West Fraser Timber has a 52-week low of $63.73 and a 52-week high of $100.33. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.61 and a current ratio of 2.89. The firm has a market capitalization of $5.21 billion, a PE ratio of -19.70 and a beta of 1.13. The stock has a fifty day simple moving average of $71.00 and a two-hundred day simple moving average of $72.93.

West Fraser Timber Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Thursday, September 25th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, September 25th. West Fraser Timber’s dividend payout ratio is presently -73.14%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen lowered West Fraser Timber from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a research report on Wednesday, October 8th. TD Securities dropped their price target on West Fraser Timber from $98.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, July 25th. Finally, Royal Bank Of Canada dropped their price target on West Fraser Timber from $97.00 to $92.00 and set an “outperform” rating on the stock in a research note on Monday. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $89.50.

Institutional Investors Weigh In On West Fraser Timber

Institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership bought a new stake in West Fraser Timber during the 2nd quarter valued at approximately $5,248,000. CANADA LIFE ASSURANCE Co raised its stake in West Fraser Timber by 21.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 100,805 shares of the company’s stock valued at $7,379,000 after purchasing an additional 18,055 shares during the period. The Manufacturers Life Insurance Company raised its stake in West Fraser Timber by 10.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,375 shares of the company’s stock valued at $13,253,000 after purchasing an additional 17,577 shares during the period. Lighthouse Investment Partners LLC bought a new stake in West Fraser Timber during the 2nd quarter valued at approximately $1,013,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of West Fraser Timber by 3.0% in the first quarter. Goldman Sachs Group Inc. now owns 230,878 shares of the company’s stock worth $17,764,000 after buying an additional 6,640 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

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.