Citigroup Issues Pessimistic Forecast for Weyerhaeuser (NYSE:WY) Stock Price

Key Points

• Citigroup lowered Weyerhaeuser’s price target from $30 to $29 while maintaining a “buy” rating, implying roughly 14.4% upside from the stock’s $25.35 price.
• Analyst sentiment remains broadly positive: Weyerhaeuser has a “Moderate Buy” consensus rating and a $29 average price target, with other targets ranging from $28 to $31.
• The company beat quarterly earnings expectations with $0.13 EPS versus $0.08 forecast and $1.87 billion in revenue, although revenue declined 8.3% year over year.

Weyerhaeuser (NYSE:WY - Get Free Report) had its target price decreased by stock analysts at Citigroup from $30.00 to $29.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. Citigroup's price objective would indicate a potential upside of 14.41% from the stock's current price.

Several other brokerages have also recently issued reports on WY. JPMorgan Chase & Co. raised their target price on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Royal Bank Of Canada restated an "outperform" rating and set a $30.00 target price on shares of Weyerhaeuser in a research report on Friday, July 17th. Truist Financial reaffirmed a "hold" rating and issued a $28.00 price target (up from $27.00) on shares of Weyerhaeuser in a report on Monday. Wall Street Zen raised Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, DA Davidson reiterated a "buy" rating and set a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.00.

Weyerhaeuser Stock Performance

NYSE:WY traded up $0.12 during midday trading on Tuesday, hitting $25.35. The company's stock had a trading volume of 815,151 shares, compared to its average volume of 5,908,199. Weyerhaeuser has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The firm's 50 day moving average is $24.19 and its 200-day moving average is $24.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15. The firm has a market cap of $18.28 billion, a P/E ratio of 38.96, a P/E/G ratio of 1.48 and a beta of 0.89.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. Weyerhaeuser's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. Equities analysts anticipate that Weyerhaeuser will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weyerhaeuser

Large investors have recently bought and sold shares of the business. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Weyerhaeuser during the fourth quarter worth about $7,870,000. Bfsg LLC raised its holdings in Weyerhaeuser by 44.0% in the fourth quarter. Bfsg LLC now owns 274,190 shares of the real estate investment trust's stock valued at $6,496,000 after acquiring an additional 83,806 shares in the last quarter. Blume Capital Management Inc. lifted its stake in Weyerhaeuser by 35.8% in the fourth quarter. Blume Capital Management Inc. now owns 186,973 shares of the real estate investment trust's stock worth $4,429,000 after acquiring an additional 49,275 shares during the last quarter. Pacific Heights Asset Management LLC lifted its stake in Weyerhaeuser by 71.4% in the fourth quarter. Pacific Heights Asset Management LLC now owns 600,000 shares of the real estate investment trust's stock worth $14,214,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Weyerhaeuser in the fourth quarter worth approximately $6,614,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Company Profile

Weyerhaeuser Company NYSE: WY is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.

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