Western Forest Products (TSE:WEF) Sets New 1-Year Low – Here’s What Happened

Western Forest Products Inc. (TSE:WEF) hit a new 52-week low on Tuesday . The stock traded as low as C$0.40 and last traded at C$0.41, with a volume of 693710 shares trading hands. The stock had previously closed at C$0.42.

Wall Street Analysts Forecast Growth

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

Western Forest Products Price Performance

The company has a current ratio of 2.97, a quick ratio of 0.73 and a debt-to-equity ratio of 18.43. The stock has a market capitalization of C$128.28 million, a PE ratio of -2.89, a P/E/G ratio of 0.32 and a beta of 1.81. The stock’s fifty day simple moving average is C$0.47 and its 200-day simple moving average is C$0.47.

Western Forest Products (TSE:WEF) last released its quarterly earnings results on Wednesday, November 6th. The company reported C($0.06) earnings per share for the quarter, missing the consensus estimate of C($0.03) by C($0.03). Western Forest Products had a negative return on equity of 7.64% and a negative net margin of 4.13%. The firm had revenue of C$241.70 million for the quarter, compared to analysts’ expectations of C$242.00 million. As a group, sell-side analysts forecast that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

Western Forest Products Company Profile

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.