West Fraser Timber (TSE:WFG) Shares Up 1.6% – Time to Buy?

West Fraser Timber Co. Ltd. (TSE:WFG)’s share price shot up 1.6% during trading on Thursday . The company traded as high as C$130.50 and last traded at C$130.37. 123,167 shares were traded during mid-day trading, a decline of 24% from the average session volume of 162,560 shares. The stock had previously closed at C$128.35.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WFG shares. CIBC lifted their price objective on West Fraser Timber from C$125.00 to C$138.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets raised West Fraser Timber to a “strong-buy” rating in a research note on Tuesday, July 30th.

West Fraser Timber Stock Down 0.8 %

The company has a quick ratio of 2.10, a current ratio of 2.33 and a debt-to-equity ratio of 7.39. The company has a fifty day moving average price of C$129.74 and a 200-day moving average price of C$117.57. The stock has a market capitalization of C$10.10 billion, a P/E ratio of 56.74 and a beta of 2.03.

West Fraser Timber (TSE:WFG) last released its quarterly earnings results on Wednesday, October 23rd. The company reported C($1.41) EPS for the quarter, missing the consensus estimate of C($0.62) by C($0.79). West Fraser Timber had a return on equity of 1.98% and a net margin of 2.21%. The company had revenue of C$1.96 billion during the quarter, compared to analysts’ expectations of C$2.01 billion. As a group, research analysts forecast that West Fraser Timber Co. Ltd. will post 8.1184776 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, September 26th. West Fraser Timber’s dividend payout ratio (DPR) is 75.88%.

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.