JPMorgan Chase & Co. Cuts Weyerhaeuser (NYSE:WY) Price Target to $28.00

Weyerhaeuser (NYSE:WY) had its price target reduced by JPMorgan Chase & Co. from $31.00 to $28.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other research firms have also commented on WY. Citigroup reduced their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings upgraded Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Truist Financial reissued a “hold” rating and set a $28.00 target price (up from $27.00) on shares of Weyerhaeuser in a research note on Monday, August 3rd. Raymond James Financial upgraded Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research report on Friday, July 10th. Finally, Wall Street Zen raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.67.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $23.04 on Thursday. Weyerhaeuser has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. The stock’s fifty day moving average is $24.11 and its two-hundred day moving average is $24.25. The firm has a market capitalization of $16.61 billion, a P/E ratio of 35.45, a PEG ratio of 2.23 and a beta of 0.87.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $0.12 earnings per share. Weyerhaeuser’s quarterly revenue was down 8.3% on a year-over-year basis. Research analysts expect that Weyerhaeuser will post 0.32 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, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 4th. Weyerhaeuser’s payout ratio is currently 129.23%.

Institutional Trading of Weyerhaeuser

Institutional investors and hedge funds have recently bought and sold shares of the business. Essential Partners LLC lifted its holdings in shares of Weyerhaeuser by 120,800.0% during the first quarter. Essential Partners LLC now owns 1,209 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 1,208 shares during the period. Nvwm LLC raised its position in Weyerhaeuser by 174.7% during the 2nd quarter. Nvwm LLC now owns 1,258 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 800 shares during the last quarter. Versant Capital Management Inc raised its position in Weyerhaeuser by 77.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,412 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 617 shares during the last quarter. Compass Financial Management LLC acquired a new stake in shares of Weyerhaeuser in the 2nd quarter worth $35,000. Finally, Addison Advisors LLC lifted its stake in shares of Weyerhaeuser by 83.4% in the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 757 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Company Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.