Q1 2024 Earnings Estimate for Weyerhaeuser (NYSE:WY) Issued By Seaport Res Ptn

Weyerhaeuser (NYSE:WY - Free Report) - Research analysts at Seaport Res Ptn lowered their Q1 2024 earnings per share estimates for Weyerhaeuser in a research note issued to investors on Monday, April 15th. Seaport Res Ptn analyst M. Weintraub now expects that the real estate investment trust will post earnings per share of $0.15 for the quarter, down from their previous estimate of $0.21. The consensus estimate for Weyerhaeuser's current full-year earnings is $1.03 per share. Seaport Res Ptn also issued estimates for Weyerhaeuser's Q2 2024 earnings at $0.35 EPS and Q3 2024 earnings at $0.33 EPS.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings results on Friday, January 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.82 billion. Weyerhaeuser had a return on equity of 7.36% and a net margin of 10.93%. Weyerhaeuser's revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share.

A number of other equities research analysts also recently commented on the company. Truist Financial reaffirmed a "hold" rating and issued a $36.00 price objective on shares of Weyerhaeuser in a research report on Wednesday, April 3rd. CIBC set a $37.00 price objective on Weyerhaeuser and gave the company a "neutral" rating in a research report on Wednesday, March 13th. BMO Capital Markets lifted their price objective on Weyerhaeuser from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, March 22nd. StockNews.com downgraded Weyerhaeuser from a "buy" rating to a "hold" rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $39.00 price target on shares of Weyerhaeuser in a research report on Monday, January 29th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Weyerhaeuser currently has a consensus rating of "Hold" and a consensus price target of $38.00.

Weyerhaeuser Trading Down 1.4 %

Shares of NYSE:WY traded down $0.45 during midday trading on Wednesday, reaching $31.52. The company's stock had a trading volume of 3,392,180 shares, compared to its average volume of 3,447,575. The firm has a market cap of $23.00 billion, a price-to-earnings ratio of 27.41 and a beta of 1.43. The company has a quick ratio of 2.22, a current ratio of 2.94 and a debt-to-equity ratio of 0.50. Weyerhaeuser has a 1 year low of $28.12 and a 1 year high of $36.27. The business has a 50 day moving average price of $34.18 and a 200 day moving average price of $32.66.

Weyerhaeuser Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Thursday, March 7th. This is a boost from Weyerhaeuser's previous quarterly dividend of $0.19. Weyerhaeuser's payout ratio is currently 69.57%.

Insiders Place Their Bets

In related news, CFO David M. Wold sold 924 shares of the business's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the transaction, the chief financial officer now owns 60,655 shares in the company, valued at $1,991,910.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Keith O'rear sold 8,349 shares of the business's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.03, for a total value of $300,814.47. Following the completion of the sale, the senior vice president now directly owns 170,665 shares of the company's stock, valued at $6,149,059.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David M. Wold sold 924 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $32.84, for a total value of $30,344.16. Following the completion of the sale, the chief financial officer now directly owns 60,655 shares of the company's stock, valued at $1,991,910.20. The disclosure for this sale can be found here. Insiders have sold a total of 42,699 shares of company stock worth $1,455,609 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of Weyerhaeuser

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Weyerhaeuser by 2.5% in the first quarter. BlackRock Inc. now owns 60,389,476 shares of the real estate investment trust's stock worth $1,819,535,000 after buying an additional 1,484,895 shares during the period. Price T Rowe Associates Inc. MD increased its position in Weyerhaeuser by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,387,553 shares of the real estate investment trust's stock worth $1,682,437,000 after buying an additional 888,621 shares during the period. Wellington Management Group LLP increased its position in Weyerhaeuser by 53.2% in the fourth quarter. Wellington Management Group LLP now owns 29,571,219 shares of the real estate investment trust's stock worth $1,028,191,000 after buying an additional 10,271,891 shares during the period. Norges Bank acquired a new stake in Weyerhaeuser in the fourth quarter worth $753,497,000. Finally, JPMorgan Chase & Co. increased its position in Weyerhaeuser by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 21,065,844 shares of the real estate investment trust's stock worth $645,879,000 after buying an additional 58,688 shares during the period. 82.99% of the stock is owned by institutional investors.

About Weyerhaeuser

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.