Raymond James Cuts Western Forest Products (TSE:WEF) Price Target to C$0.50

Western Forest Products (TSE:WEF) had its target price reduced by Raymond James from C$0.60 to C$0.50 in a research report released on Thursday,BayStreet.CA reports.

Separately, TD Securities decreased their price objective on Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating for the company in a research note on Friday, November 8th.

Western Forest Products Trading Up 2.5 %

TSE WEF opened at C$0.41 on Thursday. Western Forest Products has a one year low of C$0.39 and a one year high of C$0.70. The company has a debt-to-equity ratio of 18.43, a quick ratio of 0.73 and a current ratio of 2.97. The company has a market capitalization of C$129.87 million, a price-to-earnings ratio of -2.93, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. The company’s 50-day simple moving average is C$0.43 and its two-hundred day simple moving average is C$0.45.

Western Forest Products (TSE:WEF) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.03). The business had revenue of C$241.70 million for the quarter, compared to analysts’ expectations of C$242.00 million. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. Equities analysts forecast that Western Forest Products will post 0.004992 EPS for the current fiscal year.

Western Forest Products Company Profile

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.