Weyerhaeuser (NYSE:WY) Posts Earnings Results

Key Points

• Weyerhaeuser beat earnings expectations, reporting quarterly EPS of $0.08 versus the $0.04 consensus estimate, while revenue of $1.86 billion fell short of the $1.92 billion forecast.
• Shares rose 3.1% to $19.79 in midday trading. The company paid a quarterly dividend of $0.21, equivalent to an annualized $0.84 payout and a 4.2% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $25.89, although several firms recently lowered their targets.

Weyerhaeuser (NYSE:WY - Get Free Report) released its earnings results on Thursday. The real estate investment trust reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04, FiscalAI reports. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.92 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.

Weyerhaeuser Trading Up 3.1%

WY stock traded up $0.60 during midday trading on Thursday, hitting $19.79. 10,184,753 shares of the company's stock were exchanged, compared to its average volume of 6,262,949. The stock has a market capitalization of $14.26 billion, a PE ratio of 30.44, a P/E/G ratio of 2.39 and a beta of 0.92. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. Weyerhaeuser has a 1-year low of $18.25 and a 1-year high of $27.75. The business has a 50-day simple moving average of $21.05 and a two-hundred day simple moving average of $23.75.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, September 4th. Weyerhaeuser's dividend payout ratio is presently 129.23%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WY shares. Truist Financial dropped their price target on Weyerhaeuser from $28.00 to $24.00 and set a "hold" rating for the company in a research report on Monday, October 12th. Royal Bank Of Canada decreased their price objective on Weyerhaeuser from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of Weyerhaeuser from $31.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, September 3rd. Raymond James Financial raised shares of Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 target price for the company in a report on Friday, July 10th. Finally, Canadian Imperial Bank of Commerce reduced their target price on shares of Weyerhaeuser from $30.00 to $25.00 and set an "outperformer" rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and an average target price of $25.89.

About Weyerhaeuser

Weyerhaeuser NYSE: WY is a real estate investment trust focused on timberlands and wood products. The company owns or controls approximately 10.4 million acres of timberlands in the United States and manages additional timberlands under long-term licenses. Its operations are concentrated in major timber-producing regions, including the Pacific Northwest, the South and the Western United States.

Weyerhaeuser's principal products include lumber, engineered wood products, structural panels and other materials used in residential and commercial construction.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.