Raymond James Lowers Western Forest Products (TSE:WEF) Price Target to C$0.50

Western Forest Products (TSE:WEF) had its target price decreased by investment analysts at Raymond James from C$0.60 to C$0.50 in a research note issued on Thursday,BayStreet.CA reports. Raymond James’ price objective would suggest a potential upside of 20.48% from the stock’s current price.

Separately, TD Securities decreased their target price on shares of Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating on the stock in a research note on Friday, November 8th.

Western Forest Products Stock Performance

WEF stock traded up C$0.02 during midday trading on Thursday, hitting C$0.42. 9,605 shares of the stock traded hands, compared to its average volume of 248,014. The firm has a market cap of C$131.45 million, a P/E ratio of -2.96, a PEG ratio of 0.32 and a beta of 1.81. Western Forest Products has a 1-year low of C$0.39 and a 1-year high of C$0.70. The company has a debt-to-equity ratio of 18.43, a current ratio of 2.97 and a quick ratio of 0.73. The stock’s fifty day simple moving average is C$0.43 and its 200-day simple moving average is C$0.45.

Western Forest Products (TSE:WEF) last announced its earnings results on Wednesday, November 6th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.03). Western Forest Products had a negative net margin of 4.13% and a negative return on equity of 7.64%. The company had revenue of C$241.70 million during the quarter, compared to analyst estimates of C$242.00 million. On average, analysts expect that Western Forest Products will post 0.004992 earnings per share for the current year.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.