Weyerhaeuser (NYSE:WY) Announces Quarterly Earnings Results

Key Points

• Weyerhaeuser exceeded quarterly expectations, reporting earnings of $0.13 per share versus the $0.08 consensus estimate, while revenue reached $1.87 billion compared with expectations of $1.85 billion.
• The stock fell to $23.48 during Thursday trading. Weyerhaeuser paid a quarterly dividend of $0.21, equivalent to an annualized $0.84 dividend and a 3.6% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $29.00, despite some firms lowering targets and Truist retaining a hold rating.

Weyerhaeuser (NYSE:WY - Get Free Report) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.05, FiscalAI reports. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.85 billion.

Weyerhaeuser Stock Performance

WY traded down $0.97 during trading on Thursday, hitting $23.48. 6,635,126 shares of the stock were exchanged, compared to its average volume of 5,907,894. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. Weyerhaeuser has a 1-year low of $21.16 and a 1-year high of $27.75. The stock has a fifty day moving average price of $24.13 and a two-hundred day moving average price of $24.64. The firm has a market capitalization of $16.93 billion, a P/E ratio of 43.49, a PEG ratio of 1.39 and a beta of 0.89.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, June 5th. Weyerhaeuser's payout ratio is presently 155.56%.

Hedge Funds Weigh In On Weyerhaeuser

A number of hedge funds and other institutional investors have recently made changes to their positions in WY. Parkside Financial Bank & Trust boosted its holdings in shares of Weyerhaeuser by 21.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,406 shares of the real estate investment trust's stock valued at $57,000 after acquiring an additional 428 shares in the last quarter. Summit Financial LLC raised its holdings in Weyerhaeuser by 1.3% during the fourth quarter. Summit Financial LLC now owns 32,553 shares of the real estate investment trust's stock worth $771,000 after purchasing an additional 428 shares in the last quarter. BOKF NA lifted its position in Weyerhaeuser by 4.6% in the third quarter. BOKF NA now owns 10,503 shares of the real estate investment trust's stock valued at $260,000 after purchasing an additional 463 shares during the period. Janney Montgomery Scott LLC lifted its position in Weyerhaeuser by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,640 shares of the real estate investment trust's stock valued at $726,000 after purchasing an additional 558 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its holdings in Weyerhaeuser by 5.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 12,126 shares of the real estate investment trust's stock valued at $301,000 after purchasing an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their price objective on Weyerhaeuser from $28.00 to $27.00 and set a "hold" rating for the company in a research note on Wednesday, July 15th. Raymond James Financial upgraded Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 target price for the company in a report on Friday, July 10th. DA Davidson reaffirmed a "buy" rating and issued a $31.00 target price on shares of Weyerhaeuser in a research report on Tuesday, June 30th. Weiss Ratings lowered shares of Weyerhaeuser from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 25th. Finally, Citigroup reduced their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

About Weyerhaeuser

Weyerhaeuser Company NYSE: WY is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.