Raymond James Has Positive Outlook for WFG FY2024 Earnings

West Fraser Timber Co. Ltd. (NYSE:WFG) – Research analysts at Raymond James raised their FY2024 EPS estimates for West Fraser Timber in a report issued on Monday, January 20th. Raymond James analyst D. Swetlishoff now forecasts that the company will post earnings of $1.59 per share for the year, up from their previous estimate of $0.95. Raymond James has a “Moderate Buy” rating and a $115.00 price target 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.

Other equities research analysts have also recently issued reports about the company. Scotiabank increased their target price on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a report on Friday, October 25th. BMO Capital Markets upped their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $113.60.

West Fraser Timber Stock Up 2.4 %

WFG stock opened at $92.15 on Wednesday. The firm’s fifty day moving average is $90.55 and its 200 day moving average is $89.92. West Fraser Timber has a 52 week low of $73.91 and a 52 week high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share.

West Fraser Timber Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were given a $0.32 dividend. 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 dividend on an annualized basis and a dividend yield of 1.39%. West Fraser Timber’s dividend payout ratio is currently -100.00%.

Institutional Investors Weigh In On West Fraser Timber

Several hedge funds have recently bought and sold shares of WFG. Ensign Peak Advisors Inc bought a new stake in shares of West Fraser Timber in the 2nd quarter worth approximately $44,000. Signaturefd LLC raised its position in shares of West Fraser Timber by 77.4% in the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock worth $86,000 after purchasing an additional 384 shares during the last quarter. US Bancorp DE grew its position in West Fraser Timber by 82.9% during the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after purchasing an additional 582 shares during the last quarter. D.B. Root & Company LLC bought a new stake in West Fraser Timber during the 3rd quarter valued at about $223,000. Finally, Quantinno Capital Management LP bought a new position in shares of West Fraser Timber in the third quarter worth approximately $258,000. Institutional investors own 40.23% of the company’s stock.

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.