West Fraser Timber Co. Ltd. (NYSE:WFG) Announces Quarterly Dividend of $0.32

West Fraser Timber Co. Ltd. (NYSE:WFG) announced a quarterly dividend on Wednesday, September 10th, Wall Street Journal reports. Shareholders of record on Thursday, September 25th will be paid a dividend of 0.32 per share on Tuesday, October 14th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, September 25th.

West Fraser Timber has a dividend payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect West Fraser Timber to earn $7.53 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 17.0%.

West Fraser Timber Trading Down 2.5%

WFG stock opened at $70.17 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $73.04 and its 200-day moving average is $74.26. West Fraser Timber has a 1-year low of $68.63 and a 1-year high of $102.40. The firm has a market cap of $5.37 billion, a P/E ratio of -40.10 and a beta of 1.15.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.74). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. Equities analysts anticipate that West Fraser Timber will post 4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WFG has been the subject of a number of research reports. Wall Street Zen lowered West Fraser Timber from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. TD Securities lowered their price objective on shares of West Fraser Timber from $98.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, July 25th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of West Fraser Timber in a research report on Monday, July 21st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.00.

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.