CIBC Cuts Weyerhaeuser (NYSE:WY) Price Target to $31.00

Key Points

• CIBC has lowered Weyerhaeuser's price target from $32.00 to $31.00, while maintaining an "outperformer" rating, suggesting a potential upside of 19.76% from the current price.
• Other analysts have also reduced their price targets, with Citigroup setting a target of $31.00 and Truist Financial decreasing theirs to $29.00, indicating a cautious outlook among brokerage firms.
• Weyerhaeuser shares have been trading up, reaching $25.89, with a market cap of $18.68 billion, though its revenue declined 2.8% year-over-year during its last quarter.

Weyerhaeuser (NYSE:WY - Free Report) had its price objective trimmed by CIBC from $32.00 to $31.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperformer rating on the real estate investment trust's stock.

Other analysts also recently issued reports about the company. Truist Financial cut their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Monday, July 28th. Citigroup lowered their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. The Goldman Sachs Group cut Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Wall Street Zen cut Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $32.75.

Weyerhaeuser Price Performance

NYSE WY traded up $0.13 during mid-day trading on Thursday, hitting $24.95. The stock had a trading volume of 4,704,276 shares, compared to its average volume of 4,070,449. The firm's 50 day moving average is $25.75 and its 200 day moving average is $26.55. Weyerhaeuser has a twelve month low of $24.10 and a twelve month high of $34.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of 65.66, a PEG ratio of 78.75 and a beta of 1.07.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $0.21 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a $0.21 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. Weyerhaeuser's payout ratio is 221.05%.

Insider Buying and Selling

In other news, Director Sara Grootwassink Lewis bought 4,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the transaction, the director owned 21,478 shares in the company, valued at $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

Institutional Trading of Weyerhaeuser

Several institutional investors and hedge funds have recently made changes to their positions in WY. Fourth Dimension Wealth LLC acquired a new position in shares of Weyerhaeuser during the 4th quarter valued at about $27,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Weyerhaeuser in the first quarter valued at about $29,000. Hantz Financial Services Inc. grew its stake in shares of Weyerhaeuser by 86.3% in the second quarter. Hantz Financial Services Inc. now owns 1,125 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 521 shares in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Weyerhaeuser in the first quarter valued at about $31,000. Finally, Costello Asset Management INC acquired a new stake in shares of Weyerhaeuser in the first quarter valued at about $32,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.