Western Forest Products Inc. (TSE:WEF) Expected to Post FY2024 Earnings of ($0.13) Per Share

Western Forest Products Inc. (TSE:WEF - Free Report) - Raymond James upped their FY2024 earnings estimates for Western Forest Products in a report released on Tuesday, May 7th. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings per share of ($0.13) for the year, up from their prior estimate of ($0.16). The consensus estimate for Western Forest Products' current full-year earnings is $0.00 per share.

WEF has been the topic of several other reports. Scotiabank set a C$0.80 price objective on Western Forest Products and gave the company a "sector perform" rating in a report on Monday, January 22nd. CIBC reduced their target price on shares of Western Forest Products from C$0.65 to C$0.60 in a research report on Thursday. Finally, TD Securities cut their price objective on shares of Western Forest Products from C$0.65 to C$0.60 and set a "hold" rating for the company in a report on Thursday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Western Forest Products currently has a consensus rating of "Hold" and an average target price of C$0.71.

Western Forest Products Stock Performance

TSE WEF remained flat at C$0.51 on Friday. 338,710 shares of the company's stock traded hands, compared to its average volume of 285,340. The firm has a market cap of C$161.54 million, a price-to-earnings ratio of -2.32, a PEG ratio of 0.32 and a beta of 1.92. The stock's fifty day moving average price is C$0.58 and its 200-day moving average price is C$0.65. The company has a quick ratio of 0.73, a current ratio of 2.77 and a debt-to-equity ratio of 18.42. Western Forest Products has a twelve month low of C$0.50 and a twelve month high of C$1.14.

Western Forest Products (TSE:WEF - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.05) by C$0.01. The firm had revenue of C$246.60 million during the quarter. Western Forest Products had a negative return on equity of 11.50% and a negative net margin of 6.73%.

Insider Buying and Selling at Western Forest Products

In related news, Senior Officer Joseph Steven Hofer bought 100,000 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of C$0.63 per share, with a total value of C$63,000.00. Company insiders own 0.67% of the company's stock.

Western Forest Products Company Profile

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.