Scotiabank Cuts Earnings Estimates for West Fraser Timber

West Fraser Timber Co. Ltd. (NYSE:WFG) – Equities researchers at Scotiabank decreased their Q3 2024 EPS estimates for West Fraser Timber in a report released on Monday, October 21st. Scotiabank analyst B. Isaacson now anticipates that the company will post earnings of ($0.45) per share for the quarter, down from their prior estimate of ($0.16). The consensus estimate for West Fraser Timber’s current full-year earnings is $2.03 per share.

A number of other equities research analysts have also weighed in on WFG. BMO Capital Markets boosted 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. Royal Bank of Canada increased their price target on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $107.60.

West Fraser Timber Stock Up 1.0 %

NYSE:WFG opened at $95.50 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33. The stock has a market capitalization of $7.45 billion, a P/E ratio of 61.22 and a beta of 1.16. The company’s 50-day simple moving average is $92.71 and its 200-day simple moving average is $84.32. West Fraser Timber has a fifty-two week low of $64.11 and a fifty-two week high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm earned ($0.03) EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis.

West Fraser Timber Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 0.99%. West Fraser Timber’s dividend payout ratio is currently 60.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new position in West Fraser Timber in the 2nd quarter worth approximately $42,886,000. Cumberland Partners Ltd acquired a new position in West Fraser Timber during the first quarter worth $1,011,000. Envestnet Asset Management Inc. purchased a new stake in West Fraser Timber in the 2nd quarter valued at $1,862,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of West Fraser Timber by 27.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,699 shares of the company’s stock worth $320,000 after acquiring an additional 802 shares during the last quarter. Finally, Pacifica Partners Inc. raised its holdings in shares of West Fraser Timber by 816.2% during the 3rd quarter. Pacifica Partners Inc. now owns 13,386 shares of the company’s stock worth $1,306,000 after acquiring an additional 11,925 shares during the period. 40.23% of the stock is owned by hedge funds and other institutional investors.

About West Fraser Timber

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.