Western Forest Products (TSE:WEF) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Western Forest Products Inc. (TSE:WEF)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.46 and traded as low as C$0.45. Western Forest Products shares last traded at C$0.45, with a volume of 1,172,215 shares.

Analysts Set New Price Targets

Separately, TD Securities lowered their price objective on Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating on the stock in a report on Friday, November 8th.

Western Forest Products Stock Down 2.2 %

The firm has a market capitalization of C$140.95 million, a price-to-earnings ratio of -3.18, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. The company has a debt-to-equity ratio of 18.43, a quick ratio of 0.73 and a current ratio of 2.97. The business’s 50 day moving average is C$0.44 and its 200-day moving average is C$0.46.

Western Forest Products (TSE:WEF) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.03). Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. The business had revenue of C$241.70 million during the quarter, compared to analyst estimates of C$242.00 million. Equities analysts anticipate that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.