West Fraser Timber (NYSE:WFG) Releases Earnings Results, Beats Estimates By $0.63 EPS

West Fraser Timber (NYSE:WFG) released its quarterly earnings data on Wednesday. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.63, Zacks reports. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%.

West Fraser Timber Price Performance

WFG traded down $1.21 during trading on Wednesday, hitting $83.87. The stock had a trading volume of 212,629 shares, compared to its average volume of 171,912. The company has a 50 day moving average price of $88.20 and a 200-day moving average price of $90.81. West Fraser Timber has a one year low of $73.91 and a one year high of $102.40. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of -65.52 and a beta of 1.22.

West Fraser Timber Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were issued a dividend of $0.32 per share. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, December 27th. West Fraser Timber’s dividend payout ratio (DPR) is presently -100.00%.

Analyst Ratings Changes

WFG has been the topic of a number of recent analyst reports. Raymond James lowered their price target on West Fraser Timber from $120.00 to $115.00 in a research report on Thursday, January 30th. Scotiabank dropped their price target on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 3rd. Finally, BMO Capital Markets raised their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $111.40.

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.