Western Forest Products Inc. (TSE:WEF – Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as C$0.45 and last traded at C$0.46, with a volume of 15057 shares changing hands. The stock had previously closed at C$0.45.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on WEF. CIBC lowered their target price on Western Forest Products from C$0.65 to C$0.60 in a research report on Thursday, May 9th. TD Securities lowered their price objective on shares of Western Forest Products from C$0.65 to C$0.60 and set a “hold” rating on the stock in a report on Thursday, May 9th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Western Forest Products presently has an average rating of “Hold” and an average target price of C$0.71.
Read Our Latest Stock Analysis on Western Forest Products
Western Forest Products Stock Up 2.3 %
Western Forest Products (TSE:WEF – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported C($0.02) earnings per share for the quarter. The company had revenue of C$239.50 million during the quarter, compared to analysts’ expectations of C$231.00 million. Western Forest Products had a negative return on equity of 9.90% and a negative net margin of 5.96%. On average, research analysts anticipate that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.
Western Forest Products Company Profile
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.
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