Royal Bank Of Canada Issues Positive Forecast for Western Forest Products (TSE:WEF) Stock Price

Key Points

• Royal Bank of Canada raised its price target on Western Forest Products to C$14.00 (from C$13.00) and maintained a sector perform rating; that target implies about a 1.69% downside from the prior close.
• Other brokers also raised targets (TD to C$17, Scotiabank to C$18, Raymond James to C$13.50), but the consensus remains a Hold with an average target of C$15.70.
• WEF traded at C$14.24 (down ~1.5%); the company reported a C($1.55) quarterly EPS with negative net margin and ROE, highlighting ongoing profitability challenges and a market cap of roughly C$150M.

Western Forest Products (TSE:WEF - Get Free Report) had its price objective increased by research analysts at Royal Bank Of Canada from C$13.00 to C$14.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential downside of 1.69% from the stock's previous close.

Several other equities analysts have also recently issued reports on WEF. TD boosted their price target on shares of Western Forest Products from C$16.00 to C$17.00 and gave the company a "hold" rating in a research report on Thursday. Raymond James Financial boosted their price target on shares of Western Forest Products from C$12.00 to C$13.50 and gave the company a "market perform" rating in a research report on Friday, February 20th. Scotiabank boosted their price target on shares of Western Forest Products from C$12.50 to C$18.00 and gave the company a "sector perform" rating in a research report on Monday, January 26th. Finally, TD Securities boosted their price target on shares of Western Forest Products from C$14.00 to C$16.00 and gave the company a "hold" rating in a research report on Thursday, February 12th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of C$15.70.

Western Forest Products Trading Down 1.5%

Shares of WEF stock traded down C$0.21 during mid-day trading on Thursday, reaching C$14.24. The stock had a trading volume of 16,470 shares, compared to its average volume of 42,806. The stock's 50-day moving average price is C$14.23 and its two-hundred day moving average price is C$12.82. Western Forest Products has a 52-week low of C$10.16 and a 52-week high of C$17.28. The firm has a market capitalization of C$150.35 million, a PE ratio of -1.88, a price-to-earnings-growth ratio of 0.32 and a beta of 0.16. The company has a current ratio of 2.85, a quick ratio of 0.73 and a debt-to-equity ratio of 12.40.

Western Forest Products (TSE:WEF - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C($1.55) earnings per share (EPS) for the quarter. Western Forest Products had a negative net margin of 8.09% and a negative return on equity of 15.26%. The company had revenue of C$201.90 million for the quarter. Equities analysts expect that Western Forest Products will post 0.004992 earnings per share for the current fiscal year.

Western Forest Products Company Profile

Western Forest Products Inc is a Canada-based softwood forest products company. The company's principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company's largest markets and contribute the vast majority of its total revenue.

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