West Fraser Timber (NYSE:WFG) Announces Quarterly Earnings Results

West Fraser Timber (NYSE:WFG) released its quarterly earnings results on Wednesday. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.01, Zacks reports. West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%.

West Fraser Timber Price Performance

Shares of NYSE WFG traded down $0.81 during trading on Wednesday, hitting $66.63. The company had a trading volume of 170,509 shares, compared to its average volume of 214,632. The company has a market cap of $5.22 billion, a P/E ratio of -4.43 and a beta of 1.00. West Fraser Timber has a 52 week low of $57.34 and a 52 week high of $76.99. The business’s 50-day moving average is $67.47 and its 200 day moving average is $66.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 1.84.

West Fraser Timber Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, June 25th. West Fraser Timber’s dividend payout ratio (DPR) is presently -8.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Fraser Mackenzie cut their target price on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Raymond James Financial downgraded West Fraser Timber from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $85.00 to $75.00 in a research note on Thursday, April 23rd. TD Cowen cut their price objective on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of West Fraser Timber in a research note on Friday, July 17th. Finally, Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.60.

Institutional Investors Weigh In On West Fraser Timber

Several large investors have recently modified their holdings of WFG. EFG International AG acquired a new position in shares of West Fraser Timber in the 4th quarter worth $31,000. Jain Global LLC purchased a new stake in shares of West Fraser Timber during the third quarter valued at $224,000. Sei Investments Co. lifted its holdings in shares of West Fraser Timber by 29.8% during the second quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock valued at $291,000 after purchasing an additional 912 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of West Fraser Timber in the 3rd quarter valued at $321,000. Finally, Inspire Advisors LLC boosted its position in shares of West Fraser Timber by 9.0% in the 4th quarter. Inspire Advisors LLC now owns 5,967 shares of the company’s stock valued at $365,000 after purchasing an additional 491 shares during the period. 40.23% of the stock is owned by institutional investors.

About West Fraser Timber

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.