FY2024 EPS Estimate for West Fraser Timber Raised by Analyst

West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) - Raymond James upped their FY2024 EPS estimates for West Fraser Timber in a note issued to investors on Monday, January 20th. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings of $1.59 per share for the year, up from their previous estimate of $0.95. Raymond James has a "Moderate Buy" rating and a $115.00 price objective on the stock. The consensus estimate for West Fraser Timber's current full-year earnings is $0.95 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 - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the business earned $1.81 EPS.

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

West Fraser Timber Stock Down 1.4 %

Shares of West Fraser Timber stock traded down $1.31 on Wednesday, reaching $90.75. 147,976 shares of the stock were exchanged, compared to its average volume of 172,790. The business has a 50 day moving average price of $90.53 and a two-hundred day moving average price of $89.92. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of -70.90 and a beta of 1.22. West Fraser Timber has a twelve month low of $73.91 and a twelve month high of $102.40.

Hedge Funds Weigh In On West Fraser Timber

A number of large investors have recently bought and sold shares of WFG. FMR LLC raised its position in West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company's stock worth $141,047,000 after acquiring an additional 266,298 shares during the period. Thrivent Financial for Lutherans lifted its stake in West Fraser Timber by 37.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company's stock valued at $91,429,000 after buying an additional 254,220 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in West Fraser Timber by 7.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company's stock valued at $55,683,000 after buying an additional 39,651 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in West Fraser Timber by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 305,316 shares of the company's stock worth $29,777,000 after buying an additional 4,945 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of West Fraser Timber by 128.0% during the third quarter. Cerity Partners LLC now owns 247,400 shares of the company's stock valued at $24,087,000 after acquiring an additional 138,871 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from West Fraser Timber's previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.41%. West Fraser Timber's dividend payout ratio (DPR) is -100.00%.

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.