JPMorgan Chase & Co. Cuts Weyerhaeuser (NYSE:WY) Price Target to $31.00

Key Points

• JPMorgan Chase & Co. has reduced the price target for Weyerhaeuser from $32.00 to $31.00, indicating a potential upside of 23.85% based on current stock prices.
• Other brokerages, including CIBC and Citigroup, have also lowered their price targets on Weyerhaeuser, reflecting a shift in market sentiment regarding the company's performance.
• Weyerhaeuser's recent quarterly earnings topped estimates but showed a year-over-year revenue decline, highlighting ongoing challenges despite a slight earnings rebound.

Weyerhaeuser (NYSE:WY - Free Report) had its target price reduced by JPMorgan Chase & Co. from $32.00 to $31.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust's stock.

WY has been the topic of several other research reports. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. The Goldman Sachs Group lowered shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. DA Davidson dropped their price objective on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Truist Financial dropped their price objective on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a research note on Monday, July 28th. Finally, Citigroup dropped their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.88.

Weyerhaeuser Trading Up 0.2%

Shares of WY traded up $0.06 during trading hours on Wednesday, reaching $24.55. 3,296,462 shares of the company traded hands, compared to its average volume of 3,879,553. The company's fifty day moving average price is $25.66 and its two-hundred day moving average price is $26.47. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 64.59, a price-to-earnings-growth ratio of 77.45 and a beta of 1.07. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Weyerhaeuser has a 12 month low of $24.10 and a 12 month high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. Equities research analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 29th. Weyerhaeuser's payout ratio is presently 221.05%.

Insider Buying and Selling at Weyerhaeuser

In related news, Director Sara Grootwassink Lewis acquired 4,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $25.29 per share, with a total value of $101,160.00. Following the completion of the acquisition, the director directly owned 21,478 shares of the company's stock, valued at approximately $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by insiders.

Institutional Trading of Weyerhaeuser

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Waverly Advisors LLC increased its stake in Weyerhaeuser by 3.3% in the 4th quarter. Waverly Advisors LLC now owns 10,830 shares of the real estate investment trust's stock worth $305,000 after buying an additional 343 shares during the period. S.A. Mason LLC increased its stake in Weyerhaeuser by 5.6% in the 1st quarter. S.A. Mason LLC now owns 7,642 shares of the real estate investment trust's stock worth $224,000 after buying an additional 408 shares during the period. Brighton Jones LLC increased its stake in Weyerhaeuser by 4.2% in the 2nd quarter. Brighton Jones LLC now owns 10,178 shares of the real estate investment trust's stock worth $261,000 after buying an additional 409 shares during the period. Assenagon Asset Management S.A. increased its stake in Weyerhaeuser by 1.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 29,419 shares of the real estate investment trust's stock worth $756,000 after buying an additional 445 shares during the period. Finally, Unison Advisors LLC increased its stake in Weyerhaeuser by 0.7% in the 1st quarter. Unison Advisors LLC now owns 69,309 shares of the real estate investment trust's stock worth $2,029,000 after buying an additional 455 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.