Western Forest Products (TSE:WEF) Price Target Cut to C$0.50 by Analysts at Raymond James

Western Forest Products (TSE:WEF) had its price target dropped by stock analysts at Raymond James from C$0.60 to C$0.50 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Raymond James’ target price would indicate a potential upside of 16.28% from the company’s previous close.

Separately, TD Securities decreased their target price on Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating for the company in a report on Friday, November 8th.

Western Forest Products Trading Down 1.1 %

WEF stock traded down C$0.01 during midday trading on Tuesday, hitting C$0.43. The stock had a trading volume of 60,274 shares, compared to its average volume of 291,309. The company’s 50-day moving average price is C$0.43 and its 200 day moving average price is C$0.45. The company has a debt-to-equity ratio of 18.43, a current ratio of 2.97 and a quick ratio of 0.73. The firm has a market cap of C$136.20 million, a PE ratio of -3.07, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. Western Forest Products has a 12-month low of C$0.39 and a 12-month high of C$0.72.

Western Forest Products (TSE:WEF) last released its earnings results on Wednesday, November 6th. The company reported C($0.06) EPS for the quarter, missing the consensus estimate of C($0.03) by C($0.03). The business had revenue of C$241.70 million during the quarter, compared to analyst estimates of C$242.00 million. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. On average, equities research analysts predict that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.