Western Forest Products (TSE:WEF) Share Price Breaks Below 200-Day Moving Average - What's Next?

Key Points

• Western Forest Products shares fell below their 200-day moving average of C$16.70, reaching C$14.34 before closing at C$14.99 on trading volume of 30,941 shares.
• Analysts maintain a broadly neutral outlook: five analysts rate the stock “Hold,” with a consensus price target of C$17.80 and no reported Buy ratings.
• The company reported C$1.10 in quarterly EPS and C$239.6 million in revenue, but remains unprofitable, with a negative net margin of 9.64% and return on equity of 17.78%.

Western Forest Products Inc. (TSE:WEF - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$16.70 and traded as low as C$14.34. Western Forest Products shares last traded at C$14.99, with a volume of 30,941 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Raymond James Financial boosted their price target on shares of Western Forest Products from C$12.50 to C$20.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. TD reduced their price target on shares of Western Forest Products from C$20.00 to C$17.00 and set a "hold" rating on the stock in a research report on Wednesday, October 14th. Finally, Royal Bank Of Canada increased their price target on shares of Western Forest Products from C$16.00 to C$18.00 and gave the stock a "sector perform" rating in a research report on Friday, August 14th. Five research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$17.80.

Western Forest Products Price Performance

The firm has a market capitalization of C$158.26 million, a price-to-earnings ratio of -1.87, a price-to-earnings-growth ratio of 0.32 and a beta of -0.06. The stock's fifty day moving average price is C$17.31 and its two-hundred day moving average price is C$16.70. The company has a current ratio of 2.44, a quick ratio of 0.73 and a debt-to-equity ratio of 12.63.

Western Forest Products (TSE:WEF - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported C$1.10 EPS for the quarter. The firm had revenue of C$239.60 million during the quarter. Western Forest Products had a negative net margin of 9.64% and a negative return on equity of 17.78%. Equities research analysts expect that Western Forest Products Inc. will post 0.00 EPS for the current year.

About Western Forest Products

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 785 million board feet from five sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities.

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