Western Forest Products (TSE:WEF) Share Price Passes Above Two Hundred Day Moving Average of $0.50

Western Forest Products Inc. (TSE:WEF - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.50 and traded as high as C$0.50. Western Forest Products shares last traded at C$0.50, with a volume of 468,661 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. CIBC cut their price target on shares of Western Forest Products from C$0.60 to C$0.50 in a report on Thursday, July 18th. TD Securities cut their target price on shares of Western Forest Products from C$0.60 to C$0.50 in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada decreased their target price on Western Forest Products from C$0.80 to C$0.70 in a research report on Thursday, July 11th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of C$0.65.

Western Forest Products Trading Up 5.1 %

The business's 50-day simple moving average is C$0.44 and its 200-day simple moving average is C$0.50. The company has a current ratio of 2.97, a quick ratio of 0.73 and a debt-to-equity ratio of 18.43. The company has a market cap of C$164.71 million, a PE ratio of -3.54, a P/E/G ratio of 0.32 and a beta of 1.81.

Western Forest Products (TSE:WEF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.03) by C$0.02. Western Forest Products had a negative return on equity of 7.64% and a negative net margin of 4.13%. The business had revenue of C$309.50 million during the quarter, compared to analyst estimates of C$258.00 million. As a group, analysts expect that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

About Western Forest Products

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.