West Fraser Timber Co. Ltd. (NYSE:WFG) Forecasted to Earn Q3 2024 Earnings of ($0.16) Per Share

West Fraser Timber Co. Ltd. (NYSE:WFG) – Equities research analysts at Scotiabank issued their Q3 2024 earnings per share estimates for West Fraser Timber in a report released on Monday, July 29th. Scotiabank analyst B. Isaacson anticipates that the company will earn ($0.16) per share for the quarter. The consensus estimate for West Fraser Timber’s current full-year earnings is $3.36 per share. Scotiabank also issued estimates for West Fraser Timber’s FY2025 earnings at $6.81 EPS.

WFG has been the topic of a number of other reports. Royal Bank of Canada raised their price objective on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their price target on shares of West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, TD Securities upped their price objective on shares of West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $106.50.

West Fraser Timber Price Performance

Shares of NYSE:WFG opened at $86.38 on Wednesday. The stock has a market capitalization of $6.78 billion, a P/E ratio of -71.39 and a beta of 1.16. The business has a 50-day moving average of $79.15 and a two-hundred day moving average of $80.18. West Fraser Timber has a fifty-two week low of $64.11 and a fifty-two week high of $89.97. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.09). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) EPS.

West Fraser Timber Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 26th were given a $0.32 dividend. The ex-dividend date was Wednesday, June 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. West Fraser Timber’s dividend payout ratio is -105.78%.

Institutional Trading of West Fraser Timber

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC raised its position in shares of West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $38,000 after buying an additional 186 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its stake in West Fraser Timber by 6.9% during the first quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock valued at $300,000 after acquiring an additional 224 shares during the period. Quantbot Technologies LP raised its holdings in West Fraser Timber by 3.6% in the 1st quarter. Quantbot Technologies LP now owns 6,752 shares of the company’s stock valued at $584,000 after acquiring an additional 236 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of West Fraser Timber by 8.6% in the 1st quarter. Inspire Advisors LLC now owns 4,403 shares of the company’s stock worth $381,000 after acquiring an additional 350 shares during the period. Finally, UniSuper Management Pty Ltd grew its holdings in shares of West Fraser Timber by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after purchasing an additional 400 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

About West Fraser Timber

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.