Scotiabank Comments on West Fraser Timber Co. Ltd.’s Q2 2024 Earnings (NYSE:WFG)

West Fraser Timber Co. Ltd. (NYSE:WFG) – Stock analysts at Scotiabank issued their Q2 2024 earnings per share (EPS) estimates for West Fraser Timber in a research note issued to investors on Monday, April 29th. Scotiabank analyst B. Isaacson anticipates that the company will post earnings per share of $1.29 for the quarter. Scotiabank currently has a “Outperform” rating and a $100.00 target price on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $3.56 per share. Scotiabank also issued estimates for West Fraser Timber’s FY2025 earnings at $6.91 EPS.

Several other research firms have also commented on WFG. TD Securities increased their target price on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James increased their target price on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $97.00 price objective on shares of West Fraser Timber in a report on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $106.25.

West Fraser Timber Stock Performance

NYSE:WFG opened at $77.02 on Wednesday. The firm has a market capitalization of $6.12 billion, a PE ratio of -63.65 and a beta of 1.15. The business’s fifty day moving average price is $81.30 and its 200 day moving average price is $79.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.33. West Fraser Timber has a 12 month low of $64.11 and a 12 month high of $90.17.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Tuesday, April 23rd. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.48. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.47 billion. West Fraser Timber had a positive return on equity of 2.35% and a negative net margin of 1.39%. West Fraser Timber’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.52) earnings per share.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Thursday, March 14th. West Fraser Timber’s payout ratio is -49.59%.

Institutional Investors Weigh In On West Fraser Timber

Hedge funds have recently made changes to their positions in the business. Bfsg LLC acquired a new stake in shares of West Fraser Timber during the fourth quarter worth about $42,000. Accordant Advisory Group Inc acquired a new stake in shares of West Fraser Timber during the first quarter worth about $43,000. ICA Group Wealth Management LLC acquired a new stake in shares of West Fraser Timber during the fourth quarter worth about $43,000. Tower Research Capital LLC TRC acquired a new stake in shares of West Fraser Timber during the fourth quarter worth about $78,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of West Fraser Timber during the first quarter worth about $103,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

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.