Raymond James Analysts Increase Earnings Estimates for WFG

West Fraser Timber Co. Ltd. (NYSE:WFG) – Equities researchers at Raymond James lifted their FY2024 EPS estimates for West Fraser Timber in a research note issued to investors on Monday, January 20th. Raymond James analyst D. Swetlishoff now forecasts that the company will post earnings per share of $1.59 for the year, up from their previous estimate of $0.95. Raymond James currently has a “Moderate Buy” rating and a $115.00 target price on the stock. The consensus estimate for West Fraser Timber’s current full-year earnings is $1.59 per share. Raymond James also issued estimates for West Fraser Timber’s FY2025 earnings at $5.08 EPS and FY2026 earnings at $9.94 EPS.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. During the same quarter in the prior year, the business posted $1.81 EPS.

Several other research firms have also issued reports on WFG. Scotiabank increased their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 25th. BMO Capital Markets raised their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $113.60.

West Fraser Timber Trading Up 1.3 %

NYSE WFG opened at $92.02 on Wednesday. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of -71.89 and a beta of 1.22. The firm’s 50 day simple moving average is $90.52 and its 200 day simple moving average is $89.94. West Fraser Timber has a 1 year low of $73.91 and a 1 year high of $102.40.

West Fraser Timber Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.28 dividend on an annualized basis and a yield of 1.39%. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s dividend payout ratio (DPR) is currently -100.00%.

Institutional Trading of West Fraser Timber

A number of hedge funds have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc acquired a new position in shares of West Fraser Timber during the second quarter worth $44,000. Signaturefd LLC lifted its holdings in shares of West Fraser Timber by 77.4% during the third quarter. Signaturefd LLC now owns 880 shares of the company’s stock worth $86,000 after purchasing an additional 384 shares during the period. US Bancorp DE lifted its holdings in shares of West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after purchasing an additional 582 shares during the period. D.B. Root & Company LLC acquired a new position in shares of West Fraser Timber during the third quarter worth $223,000. Finally, Quantinno Capital Management LP acquired a new position in shares of West Fraser Timber during the third quarter worth $258,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Company Profile

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.