Research Analysts Set Expectations for West Fraser Timber Co. Ltd.’s Q2 2024 Earnings (NYSE:WFG)

West Fraser Timber Co. Ltd. (NYSE:WFG) – Investment analysts at Scotiabank issued their Q2 2024 earnings estimates for West Fraser Timber in a research note issued on Monday, April 29th. Scotiabank analyst B. Isaacson anticipates that the company will post earnings per share of $1.29 for the quarter. Scotiabank has a “Outperform” rating and a $100.00 price target on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $3.56 per share. Scotiabank also issued estimates for West Fraser Timber’s FY2025 earnings at $6.91 EPS.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.48. West Fraser Timber had a positive return on equity of 2.35% and a negative net margin of 1.39%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm posted ($0.52) EPS. The company’s quarterly revenue was up .0% on a year-over-year basis.

Several other brokerages also recently issued reports on WFG. Raymond James raised their price target on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $97.00 price target on shares of West Fraser Timber in a report on Thursday, March 28th. Finally, TD Securities raised their price target on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, West Fraser Timber presently has a consensus rating of “Buy” and a consensus price target of $106.25.

West Fraser Timber Trading Up 1.7 %

Shares of West Fraser Timber stock opened at $78.36 on Wednesday. The business has a fifty day simple moving average of $81.27 and a two-hundred day simple moving average of $79.05. West Fraser Timber has a 1 year low of $64.11 and a 1 year high of $90.17. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -64.82 and a beta of 1.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.33.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bfsg LLC bought a new position in West Fraser Timber in the fourth quarter valued at about $42,000. Accordant Advisory Group Inc acquired a new stake in shares of West Fraser Timber during the first quarter valued at about $43,000. ICA Group Wealth Management LLC acquired a new stake in shares of West Fraser Timber during the fourth quarter valued at about $43,000. Tower Research Capital LLC TRC acquired a new stake in shares of West Fraser Timber during the fourth quarter valued at about $78,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of West Fraser Timber during the first quarter valued at about $103,000. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Thursday, March 14th. West Fraser Timber’s payout ratio is currently -49.59%.

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.