Scotiabank Has Negative Outlook of TSE:WEF Q3 Earnings

Western Forest Products Inc. (TSE:WEF) – Equities researchers at Scotiabank reduced their Q3 2024 earnings estimates for shares of Western Forest Products in a research report issued on Monday, October 21st. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings of ($0.03) per share for the quarter, down from their previous estimate of ($0.01). The consensus estimate for Western Forest Products’ current full-year earnings is $0.00 per share.

A number of other research analysts have also weighed in on WEF. Royal Bank of Canada cut their target price on shares of Western Forest Products from C$0.80 to C$0.70 in a research report on Thursday, July 11th. TD Securities cut their price objective on shares of Western Forest Products from C$0.60 to C$0.50 in a research report on Tuesday, July 23rd. Finally, CIBC cut their price objective on shares of Western Forest Products from C$0.60 to C$0.50 in a research report on Thursday, July 18th.

Western Forest Products Stock Up 5.1 %

Western Forest Products stock opened at C$0.52 on Thursday. The firm has a market cap of C$164.71 million, a price-to-earnings ratio of -3.71, a P/E/G ratio of 0.32 and a beta of 1.81. The company has a debt-to-equity ratio of 18.43, a current ratio of 2.97 and a quick ratio of 0.73. Western Forest Products has a fifty-two week low of C$0.41 and a fifty-two week high of C$0.81. The firm has a fifty day moving average price of C$0.48 and a two-hundred day moving average price of C$0.49.

Western Forest Products (TSE:WEF) last released its earnings results on Wednesday, July 31st. The company reported C($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.03) by C$0.02. The firm had revenue of C$309.50 million during the quarter, compared to analyst estimates of C$258.00 million. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%.

About Western Forest Products

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.