West Fraser Timber (NYSE:WFG) Posts Earnings Results, Misses Expectations By $0.08 EPS

West Fraser Timber (NYSE:WFG) issued its quarterly earnings results on Wednesday. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.08), Zacks reports. West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.63%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion.

West Fraser Timber Stock Performance

West Fraser Timber stock traded down $0.00 during midday trading on Friday, reaching $63.70. 106,118 shares of the stock traded hands, compared to its average volume of 214,611. The company has a current ratio of 1.84, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $67.61 and a two-hundred day moving average price of $66.77. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of -4.12 and a beta of 1.00. West Fraser Timber has a fifty-two week low of $57.34 and a fifty-two week high of $76.99.

West Fraser Timber Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were given a $0.32 dividend. The ex-dividend date was Thursday, June 25th. This represents a $1.28 annualized dividend and a yield of 2.0%. West Fraser Timber’s dividend payout ratio (DPR) is currently -8.29%.

Institutional Investors Weigh In On West Fraser Timber

Several large investors have recently made changes to their positions in the company. EFG International AG acquired a new position in shares of West Fraser Timber during the fourth quarter worth approximately $31,000. Jain Global LLC bought a new position in West Fraser Timber in the 3rd quarter worth approximately $224,000. Sei Investments Co. increased its position in West Fraser Timber by 29.8% in the 2nd quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock valued at $291,000 after acquiring an additional 912 shares during the period. Brooklyn Investment Group acquired a new stake in West Fraser Timber in the 3rd quarter valued at approximately $321,000. Finally, Inspire Advisors LLC raised its stake in West Fraser Timber by 9.0% during the 4th quarter. Inspire Advisors LLC now owns 5,967 shares of the company’s stock valued at $365,000 after acquiring an additional 491 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analyst Ratings Changes

WFG has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a research report on Friday, July 17th. Raymond James Financial lowered shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $85.00 to $75.00 in a research note on Thursday, April 23rd. TD Securities reissued a “buy” rating on shares of West Fraser Timber in a report on Friday. Fraser Mackenzie decreased their target price on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, TD Cowen lowered their target price on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.60.

About West Fraser Timber

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.