Analysts expect that West Fraser Timber Co. Ltd. (NYSE:WFG) will post earnings per share (EPS) of $3.46 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for West Fraser Timber's earnings. West Fraser Timber posted earnings per share of $3.78 during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.5%. The company is expected to announce its next earnings report on Thursday, February 10th.
On average, analysts expect that West Fraser Timber will report full-year earnings of $26.89 per share for the current year. For the next financial year, analysts expect that the business will post earnings of $11.97 per share. Zacks Investment Research's EPS averages are an average based on a survey of sell-side research firms that that provide coverage for West Fraser Timber.
West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, October 27th. The company reported $4.20 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $4.15 by $0.05. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.69 billion. The company's revenue was up 86.0% on a year-over-year basis.
A number of research firms have recently weighed in on WFG. TD Securities lowered West Fraser Timber from an "action list buy" rating to a "buy" rating and set a C$110.00 price objective for the company. in a research note on Monday, October 25th. They noted that the move was a valuation call. Zacks Investment Research cut West Fraser Timber from a "buy" rating to a "hold" rating in a research note on Tuesday, September 21st. Royal Bank of Canada reaffirmed a "buy" rating and issued a $160.00 price target on shares of West Fraser Timber in a research note on Friday, September 10th. CIBC cut shares of West Fraser Timber from a "sector outperform" rating to a "neutral" rating and set a $121.00 price target for the company. in a research report on Thursday, October 21st. Finally, Raymond James lifted their price target on shares of West Fraser Timber from C$170.00 to C$175.00 and gave the company a "strong-buy" rating in a research report on Wednesday, October 13th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $126.86.
A number of institutional investors and hedge funds have recently made changes to their positions in WFG. FMR LLC grew its stake in shares of West Fraser Timber by 51.5% in the second quarter. FMR LLC now owns 6,230,093 shares of the company's stock valued at $447,254,000 after buying an additional 2,118,626 shares in the last quarter. Mackenzie Financial Corp purchased a new position in West Fraser Timber during the 2nd quarter worth approximately $146,438,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of West Fraser Timber by 902.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,773,041 shares of the company's stock valued at $149,156,000 after acquiring an additional 1,596,105 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in West Fraser Timber during the 2nd quarter worth approximately $63,419,000. Finally, Vanguard Group Inc. lifted its position in West Fraser Timber by 34.2% in the second quarter. Vanguard Group Inc. now owns 3,313,645 shares of the company's stock valued at $237,522,000 after purchasing an additional 845,080 shares during the period. 60.36% of the stock is currently owned by institutional investors.
NYSE:WFG traded down $1.63 during trading hours on Tuesday, hitting $81.95. 433,778 shares of the company's stock traded hands, compared to its average volume of 280,388. The business's fifty day simple moving average is $84.78 and its two-hundred day simple moving average is $77.45. The firm has a market cap of $8.59 billion and a P/E ratio of 2.97. West Fraser Timber has a 52 week low of $54.43 and a 52 week high of $92.46.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 5th. Investors of record on Thursday, September 23rd were given a dividend of $0.198 per share. The ex-dividend date of this dividend was Wednesday, September 22nd. This represents a $0.79 annualized dividend and a yield of 0.97%. West Fraser Timber's dividend payout ratio is presently 2.86%.
About West Fraser Timber
West Fraser Timber Co Ltd. is a diversified wood products company, which engages in producing lumber, engineered wood products (oriented strand board, laminated veneer lumber, medium density fiberboard, plywood, and particleboard), pulp, newsprint, wood chips, other residuals and renewable energy. Its products are used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials.
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