Weyerhaeuser to Post Q1 2024 Earnings of $0.16 Per Share, Zacks Research Forecasts (NYSE:WY)

Weyerhaeuser (NYSE:WY - Free Report) - Equities research analysts at Zacks Research issued their Q1 2024 earnings per share estimates for shares of Weyerhaeuser in a research note issued on Wednesday, April 24th. Zacks Research analyst S. Mukherjee forecasts that the real estate investment trust will post earnings of $0.16 per share for the quarter. The consensus estimate for Weyerhaeuser's current full-year earnings is $1.00 per share. Zacks Research also issued estimates for Weyerhaeuser's FY2024 earnings at $0.95 EPS.

WY has been the subject of a number of other research reports. Royal Bank of Canada restated an "outperform" rating and set a $39.00 price objective on shares of Weyerhaeuser in a research report on Monday, January 29th. CIBC set a $37.00 price objective on Weyerhaeuser and gave the company a "neutral" rating in a research report on Wednesday, March 13th. StockNews.com lowered Weyerhaeuser from a "buy" rating to a "hold" rating in a research report on Monday, January 29th. BMO Capital Markets boosted their price target on Weyerhaeuser from $36.00 to $38.00 and gave the stock a "market perform" rating in a research report on Friday, March 22nd. Finally, Truist Financial reiterated a "hold" rating and set a $36.00 price target on shares of Weyerhaeuser in a research report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Weyerhaeuser has an average rating of "Hold" and a consensus target price of $38.00.

Weyerhaeuser Stock Performance

NYSE:WY traded down $0.41 during midday trading on Friday, reaching $31.05. 3,611,588 shares of the company traded hands, compared to its average volume of 3,417,750. Weyerhaeuser has a twelve month low of $28.12 and a twelve month high of $36.27. The firm has a market capitalization of $22.65 billion, a price-to-earnings ratio of 27.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.94 and a quick ratio of 2.22. The company has a fifty day moving average price of $33.94 and a 200 day moving average price of $32.71.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. Weyerhaeuser had a return on equity of 7.36% and a net margin of 10.93%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.21 EPS. The business's quarterly revenue was down 4.5% on a year-over-year basis.

Institutional Investors Weigh In On Weyerhaeuser

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millburn Ridgefield Corp acquired a new position in Weyerhaeuser during the third quarter valued at $25,000. Raleigh Capital Management Inc. raised its position in Weyerhaeuser by 606.7% during the third quarter. Raleigh Capital Management Inc. now owns 848 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 728 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in Weyerhaeuser during the fourth quarter valued at $26,000. American National Bank raised its position in Weyerhaeuser by 171.5% during the first quarter. American National Bank now owns 763 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 482 shares during the period. Finally, Lindbrook Capital LLC raised its position in Weyerhaeuser by 92.6% during the fourth quarter. Lindbrook Capital LLC now owns 888 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 427 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO David M. Wold sold 924 shares of the company's stock in a transaction on Thursday, February 1st. The stock was 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 owns 60,655 shares in the company, valued at $1,991,910.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Keith O'rear sold 8,349 shares of the business's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.03, for a total transaction of $300,814.47. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Wold sold 924 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the sale, the chief financial officer now directly owns 60,655 shares in the company, valued at $1,991,910.20. The disclosure for this sale can be found here. Insiders sold a total of 42,699 shares of company stock worth $1,455,609 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Weyerhaeuser Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.20 dividend. This is a positive change from Weyerhaeuser's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.58%. Weyerhaeuser's dividend payout ratio is 69.57%.

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.