Raymond James Analysts Lift Earnings Estimates for Western Forest Products Inc. (TSE:WEF)

Western Forest Products Inc. (TSE:WEF) – Raymond James upped their FY2024 earnings per share (EPS) estimates for shares of Western Forest Products in a research report issued to clients and investors on Tuesday, May 7th. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings of ($0.13) per share for the year, up from their previous forecast of ($0.16). The consensus estimate for Western Forest Products’ current full-year earnings is $0.00 per share.

Western Forest Products (TSE:WEF) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.01. Western Forest Products had a negative net margin of 6.73% and a negative return on equity of 11.50%. The firm had revenue of C$246.60 million for the quarter.

WEF has been the topic of several other reports. TD Securities cut their price objective on Western Forest Products from C$0.65 to C$0.60 and set a “hold” rating on the stock in a research report on Thursday. CIBC reduced their price target on Western Forest Products from C$0.65 to C$0.60 in a research report on Thursday. Finally, Scotiabank set a C$0.80 price objective on shares of Western Forest Products and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$0.71.

Western Forest Products Stock Performance

Shares of WEF stock opened at C$0.51 on Friday. The company has a current ratio of 2.77, a quick ratio of 0.73 and a debt-to-equity ratio of 18.42. The company has a market cap of C$161.54 million, a PE ratio of -2.32, a P/E/G ratio of 0.32 and a beta of 1.92. The company’s fifty day simple moving average is C$0.58 and its 200-day simple moving average is C$0.65. Western Forest Products has a 52 week low of C$0.50 and a 52 week high of C$1.14.

Insider Transactions at Western Forest Products

In other Western Forest Products news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of Western Forest Products stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of C$0.63 per share, with a total value of C$63,000.00. Corporate insiders own 0.67% of the company’s stock.

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.