West Fraser Timber (NYSE:WFG) Announces Quarterly Earnings Results

West Fraser Timber (NYSE:WFG) announced its earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.63, Zacks reports. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%.

West Fraser Timber Stock Down 4.0 %

Shares of WFG stock opened at $80.45 on Friday. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of -62.85 and a beta of 1.22. West Fraser Timber has a 52-week low of $73.91 and a 52-week high of $102.40. The company’s 50 day moving average is $87.68 and its 200 day moving average is $90.69.

West Fraser Timber Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is -100.00%.

Analysts Set New Price Targets

WFG has been the topic of several analyst reports. Raymond James cut their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday. Scotiabank cut their target price on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 3rd. Finally, BMO Capital Markets raised their price target on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $109.40.

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.