West Fraser Timber (TSE:WFG) Hits New 1-Year High - Here's Why

West Fraser Timber Co. Ltd. (TSE:WFG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$140.45 and last traded at C$140.24, with a volume of 12488 shares changing hands. The stock had previously closed at C$139.02.

Analyst Upgrades and Downgrades

WFG has been the topic of several research analyst reports. CIBC lifted their price objective on West Fraser Timber from C$125.00 to C$138.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. BMO Capital Markets upgraded shares of West Fraser Timber to a "strong-buy" rating in a report on Tuesday, July 30th.

West Fraser Timber Trading Up 0.1 %

The company has a market cap of C$10.87 billion, a P/E ratio of 61.77 and a beta of 2.03. The business has a fifty day simple moving average of C$123.88 and a 200 day simple moving average of C$114.38. The company has a debt-to-equity ratio of 7.39, a quick ratio of 2.10 and a current ratio of 2.33.

West Fraser Timber (TSE:WFG - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported C$1.64 earnings per share for the quarter, missing the consensus estimate of C$1.76 by C($0.12). West Fraser Timber had a net margin of 2.21% and a return on equity of 1.98%. The business had revenue of C$2.33 billion for the quarter, compared to the consensus estimate of C$2.21 billion. Analysts anticipate that West Fraser Timber Co. Ltd. will post 8.1184776 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. West Fraser Timber's payout ratio is currently 75.88%.

About West Fraser Timber

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.