West Fraser Timber Co. Ltd. (NYSE:WFG) Plans Quarterly Dividend of $0.32

West Fraser Timber Co. Ltd. (NYSE:WFG) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.32 per share on Thursday, April 3rd. This represents a $1.28 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, March 14th.

West Fraser Timber has increased its dividend by an average of 18.3% per year over the last three years. West Fraser Timber has a dividend payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect West Fraser Timber to earn $5.14 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 24.9%.

West Fraser Timber Price Performance

NYSE WFG traded down $3.34 on Thursday, reaching $80.45. 392,570 shares of the company’s stock traded hands, compared to its average volume of 179,279. The stock has a market cap of $6.25 billion, a PE ratio of -62.85 and a beta of 1.22. The stock has a 50-day simple moving average of $87.99 and a 200 day simple moving average of $90.77. West Fraser Timber has a 12 month low of $73.91 and a 12 month high of $102.40.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. As a group, analysts anticipate that West Fraser Timber will post 1.59 EPS for the current year.

Analyst Ratings Changes

WFG has been the subject of several research analyst reports. Raymond James cut their price target on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday. BMO Capital Markets upped their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Scotiabank decreased their price objective on shares of West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating for the company in a report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber has an average rating of “Buy” and an average price target of $109.40.

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.