West Fraser Timber Co. Ltd. (NYSE:WFG) Given Average Recommendation of "Hold" by Brokerages

Key Points

• West Fraser Timber (NYSE:WFG) has a consensus analyst rating of "Hold" from eight brokerages, with an average 12-month price target of $82.60.
• The stock recently traded at $67.05, up 0.8% for the day, and remains below its 1-year high of $77.47 while above its 1-year low of $57.34.
• The company recently reported a quarterly EPS loss of $2.40, missing expectations, though revenue of $1.33 billion slightly beat estimates; it also announced a quarterly dividend of $0.32 per share.

Shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Get Free Report) have been given a consensus recommendation of "Hold" by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $82.60.

Several equities research analysts have recently commented on WFG shares. Zacks Research downgraded West Fraser Timber from a "hold" rating to a "strong sell" rating in a report on Thursday, July 2nd. Fraser Mackenzie lowered their target price on shares of West Fraser Timber from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, May 1st. TD Cowen dropped their price target on shares of West Fraser Timber from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Raymond James Financial cut shares of West Fraser Timber from an "outperform" rating to a "market perform" rating and cut their price target for the company from $85.00 to $75.00 in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada decreased their price objective on shares of West Fraser Timber from $81.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, May 1st.

Hedge Funds Weigh In On West Fraser Timber

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its position in shares of West Fraser Timber by 72.2% in the first quarter. Parallel Advisors LLC now owns 439 shares of the company's stock valued at $29,000 after buying an additional 184 shares during the last quarter. EFG International AG acquired a new position in shares of West Fraser Timber during the 4th quarter worth approximately $31,000. Physician Wealth Advisors Inc. raised its stake in West Fraser Timber by 177.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company's stock valued at $38,000 after acquiring an additional 370 shares during the period. Aegis Financial Corp bought a new stake in West Fraser Timber in the 1st quarter valued at $205,000. Finally, Jain Global LLC acquired a new stake in West Fraser Timber during the 3rd quarter valued at $224,000. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Stock Up 0.8%

Shares of NYSE:WFG traded up $0.55 during midday trading on Friday, reaching $67.05. The company had a trading volume of 95,545 shares, compared to its average volume of 179,764. West Fraser Timber has a 1-year low of $57.34 and a 1-year high of $77.47. The stock has a market cap of $5.25 billion, a PE ratio of -4.46 and a beta of 1.00. The company has a quick ratio of 0.66, a current ratio of 1.84 and a debt-to-equity ratio of 0.05. The business's 50 day moving average price is $65.72 and its 200 day moving average price is $66.14.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($1.23) by ($1.17). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%. Research analysts forecast that West Fraser Timber will post -3.99 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Thursday, June 25th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, June 25th. West Fraser Timber's dividend payout ratio (DPR) is -8.51%.

About West Fraser Timber

West Fraser Timber Co Ltd. NYSE: WFG is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser's integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.

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