BMO Capital Markets Reaffirms Buy Rating for Weyerhaeuser Co. (WY)
BMO Capital Markets reissued their buy rating on shares of Weyerhaeuser Co. (NYSE:WY) in a research note issued to investors on Thursday morning. BMO Capital Markets currently has a $36.00 price objective on the real estate investment trust’s stock.
Other research analysts have also issued research reports about the stock. Goldman Sachs Group Inc. initiated coverage on shares of Weyerhaeuser in a research report on Thursday, September 22nd. They issued a buy rating and a $37.00 price target on the stock. Argus restated a buy rating and issued a $35.00 price target on shares of Weyerhaeuser in a research report on Tuesday, September 20th. Citigroup Inc. lifted their price target on shares of Weyerhaeuser from $36.00 to $37.00 and gave the stock a buy rating in a research report on Monday, August 8th. Zacks Investment Research upgraded shares of Weyerhaeuser from a hold rating to a buy rating and set a $36.00 price target on the stock in a research report on Tuesday, July 19th. Finally, Dundee Securities lowered shares of Weyerhaeuser from a buy rating to a neutral rating in a research report on Friday, August 12th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $35.44.
Weyerhaeuser (NYSE:WY) opened at 29.71 on Thursday. The stock has a market cap of $22.22 billion, a P/E ratio of 38.58 and a beta of 1.39. The stock has a 50 day moving average price of $30.71 and a 200 day moving average price of $30.99. Weyerhaeuser has a 52-week low of $22.06 and a 52-week high of $33.17.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Friday, October 28th. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Weyerhaeuser had a return on equity of 7.05% and a net margin of 7.88%. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, equities research analysts forecast that Weyerhaeuser will post $1.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, October 28th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 26th. This represents a $1.24 annualized dividend and a yield of 4.17%. Weyerhaeuser’s dividend payout ratio is 169.86%.
In other Weyerhaeuser news, SVP Denise M. Merle sold 15,049 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $31.12, for a total transaction of $468,324.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in WY. First Eagle Investment Management LLC raised its position in shares of Weyerhaeuser by 2.9% in the second quarter. First Eagle Investment Management LLC now owns 37,142,044 shares of the real estate investment trust’s stock worth $1,105,719,000 after buying an additional 1,046,922 shares during the last quarter. Capital World Investors raised its position in shares of Weyerhaeuser by 37.0% in the second quarter. Capital World Investors now owns 22,619,766 shares of the real estate investment trust’s stock worth $673,390,000 after buying an additional 6,112,230 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Weyerhaeuser by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 19,405,131 shares of the real estate investment trust’s stock worth $619,800,000 after buying an additional 105,731 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Weyerhaeuser by 4.3% in the third quarter. BlackRock Fund Advisors now owns 16,635,375 shares of the real estate investment trust’s stock worth $531,334,000 after buying an additional 690,684 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Weyerhaeuser by 2.7% in the third quarter. Northern Trust Corp now owns 9,875,750 shares of the real estate investment trust’s stock worth $315,432,000 after buying an additional 261,867 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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