West Fraser Timber Co. Ltd. (NYSE:WFG) Announces $0.32 Quarterly Dividend

West Fraser Timber Co. Ltd. (NYSE:WFG - Get Free Report) declared a quarterly dividend on Wednesday, June 11th, RTT News reports. Shareholders of record on Thursday, June 26th will be given a dividend of 0.32 per share on Monday, July 14th. This represents a $1.28 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, June 26th.

West Fraser Timber has a dividend payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect West Fraser Timber to earn $7.53 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 17.0%.

West Fraser Timber Stock Performance

WFG stock traded down $0.65 during trading on Friday, hitting $76.13. 181,667 shares of the company's stock traded hands, compared to its average volume of 179,085. West Fraser Timber has a 52 week low of $69.48 and a 52 week high of $102.40. The business has a fifty day simple moving average of $74.34 and a 200 day simple moving average of $80.76. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of -362.52 and a beta of 1.17.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.15). West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. Research analysts forecast that West Fraser Timber will post 4.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in West Fraser Timber stock. Goldman Sachs Group Inc. raised its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 3.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 230,878 shares of the company's stock after purchasing an additional 6,640 shares during the period. Goldman Sachs Group Inc. owned 0.30% of West Fraser Timber worth $17,764,000 at the end of the most recent reporting period. 40.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFG. Wall Street Zen raised shares of West Fraser Timber from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Royal Bank of Canada reduced their price target on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. TD Securities reduced their price target on shares of West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Scotiabank reduced their price target on shares of West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, February 18th. Finally, Raymond James reduced their price target on shares of West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, West Fraser Timber currently has an average rating of "Moderate Buy" and an average target price of $100.40.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.