Equities Analysts Set Expectations for WFG FY2024 Earnings

West Fraser Timber Co. Ltd. (NYSE:WFG) – Investment analysts at Raymond James increased their FY2024 earnings per share (EPS) estimates for West Fraser Timber in a report released on Monday, January 20th. Raymond James analyst D. Swetlishoff now anticipates that the company will earn $1.59 per share for the year, up from their previous forecast 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 $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) last released its 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 company had revenue of $1.44 billion for the quarter, compared to the consensus estimate 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 previous year, the company posted $1.81 EPS.

WFG has been the topic of several other reports. Scotiabank upped 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 note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, West Fraser Timber has an average rating of “Buy” and an average price target of $113.60.

West Fraser Timber Stock Up 2.4 %

NYSE:WFG opened at $92.15 on Wednesday. West Fraser Timber has a twelve month low of $73.91 and a twelve month high of $102.40. The stock’s 50 day moving average price is $90.55 and its two-hundred day moving average price is $89.92.

Institutional Trading of West Fraser Timber

Several institutional investors have recently added to or reduced their stakes in WFG. American Century Companies Inc. boosted its position in shares of West Fraser Timber by 15.8% during the 2nd quarter. American Century Companies Inc. now owns 76,508 shares of the company’s stock worth $5,876,000 after acquiring an additional 10,461 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in West Fraser Timber during the second quarter worth $1,862,000. Dimensional Fund Advisors LP increased its position in shares of West Fraser Timber by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 132,556 shares of the company’s stock valued at $10,190,000 after acquiring an additional 825 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in West Fraser Timber during the second quarter worth about $44,000. Finally, Evergreen Capital Management LLC grew its holdings in West Fraser Timber by 9.0% during the second quarter. Evergreen Capital Management LLC now owns 6,826 shares of the company’s stock valued at $527,000 after purchasing an additional 564 shares during the period. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Increases Dividend

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

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.