Western Forest Products Inc. (TSE:WEF – Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$0.49 and traded as high as C$0.53. Western Forest Products shares last traded at C$0.53, with a volume of 157,513 shares.
Wall Street Analyst Weigh In
WEF has been the topic of a number of recent research reports. TD Securities dropped their target price on Western Forest Products from C$0.60 to C$0.50 in a report on Tuesday, July 23rd. Royal Bank of Canada cut their price objective on shares of Western Forest Products from C$0.80 to C$0.70 in a report on Thursday, July 11th. Finally, CIBC lowered their target price on shares of Western Forest Products from C$0.60 to C$0.50 in a report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Western Forest Products presently has an average rating of “Hold” and a consensus price target of C$0.65.
Get Our Latest Research Report on Western Forest Products
Western Forest Products Stock Performance
Western Forest Products (TSE:WEF – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.03) by C$0.02. Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. The company had revenue of C$309.50 million for the quarter, compared to the consensus estimate of C$258.00 million. As a group, equities research analysts forecast that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.
Western Forest Products Company Profile
Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.
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