Weyerhaeuser Expected to Earn Q1 2024 Earnings of $0.16 Per Share (NYSE:WY)

Weyerhaeuser (NYSE:WY) – Research analysts at Zacks Research issued their Q1 2024 earnings per share estimates for Weyerhaeuser in a report released on Wednesday, April 24th. Zacks Research analyst S. Mukherjee anticipates that the real estate investment trust will earn $0.16 per share for the quarter. The consensus estimate for Weyerhaeuser’s current full-year earnings is $1.00 per share. Zacks Research also issued estimates for Weyerhaeuser’s FY2024 earnings at $0.95 EPS.

Other equities analysts also recently issued reports about the stock. Truist Financial reaffirmed a “hold” rating and issued a $36.00 price target on shares of Weyerhaeuser in a research note on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price target on shares of Weyerhaeuser in a report on Monday, January 29th. BMO Capital Markets increased their price objective on Weyerhaeuser from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. StockNews.com lowered shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Finally, CIBC set a $37.00 target price on shares of Weyerhaeuser and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Weyerhaeuser currently has an average rating of “Hold” and an average price target of $38.00.

Weyerhaeuser Trading Down 1.3 %

NYSE WY opened at $31.05 on Friday. The firm’s 50 day moving average price is $33.94 and its two-hundred day moving average price is $32.71. The stock has a market cap of $22.65 billion, a price-to-earnings ratio of 27.00 and a beta of 1.43. Weyerhaeuser has a twelve month low of $28.12 and a twelve month high of $36.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.22 and a current ratio of 2.94.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Weyerhaeuser had a return on equity of 7.36% and a net margin of 10.93%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company posted $0.21 EPS. Weyerhaeuser’s revenue for the quarter was down 4.5% on a year-over-year basis.

Hedge Funds Weigh In On Weyerhaeuser

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC grew its position in shares of Weyerhaeuser by 15.3% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 6,583 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 875 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Weyerhaeuser by 5.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 149,003 shares of the real estate investment trust’s stock worth $4,568,000 after acquiring an additional 8,031 shares during the period. Teacher Retirement System of Texas raised its holdings in Weyerhaeuser by 18.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 425,848 shares of the real estate investment trust’s stock valued at $13,057,000 after acquiring an additional 65,808 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Weyerhaeuser during the 4th quarter valued at $36,237,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Weyerhaeuser by 21.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 551,160 shares of the real estate investment trust’s stock worth $16,899,000 after purchasing an additional 96,900 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Keith O’rear sold 8,349 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.03, for a total value of $300,814.47. Following the sale, the senior vice president now directly owns 170,665 shares of the company’s stock, valued at approximately $6,149,059.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Keith O’rear sold 8,349 shares of Weyerhaeuser stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.03, for a total value of $300,814.47. Following the sale, the senior vice president now directly owns 170,665 shares in the company, valued at $6,149,059.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicole Weyerhaeuser Piasecki sold 33,426 shares of Weyerhaeuser stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $33.64, for a total transaction of $1,124,450.64. Following the completion of the sale, the director now owns 5,807 shares in the company, valued at $195,347.48. The disclosure for this sale can be found here. In the last three months, insiders sold 42,699 shares of company stock valued at $1,455,609. 0.27% of the stock is owned by corporate insiders.

Weyerhaeuser Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.58%. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, March 7th. Weyerhaeuser’s dividend payout ratio is presently 69.57%.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.