Zacks: Brokerages Anticipate West Fraser Timber Co. Ltd. (NYSE:WFG) to Announce $5.14 EPS

Wall Street analysts expect that West Fraser Timber Co. Ltd. (NYSE:WFG) will report $5.14 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for West Fraser Timber’s earnings. The company is expected to issue its next quarterly earnings results on Thursday, August 5th.

On average, analysts expect that West Fraser Timber will report full-year earnings of $13.12 per share for the current year. For the next fiscal year, analysts anticipate that the company will post earnings of $7.29 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover West Fraser Timber.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Thursday, May 6th. The company reported $6.96 earnings per share for the quarter, beating the consensus estimate of $4.66 by $2.30. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 163.3% on a year-over-year basis.

Several equities research analysts have recently weighed in on WFG shares. Royal Bank of Canada upped their price objective on West Fraser Timber from $85.00 to $100.00 in a research note on Tuesday, February 16th. BMO Capital Markets increased their price target on West Fraser Timber from $80.00 to $99.00 and gave the stock an “outperform” rating in a research report on Monday, May 10th. Zacks Investment Research lowered West Fraser Timber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. TD Securities upgraded West Fraser Timber from a “buy” rating and set a $95.00 price target on the stock in a research report on Friday, March 26th. Finally, Scotiabank restated an “outperform” rating on shares of West Fraser Timber in a research report on Wednesday, April 28th.

WFG stock opened at $71.92 on Tuesday. West Fraser Timber has a 1-year low of $29.01 and a 1-year high of $91.53. The firm has a 50 day moving average of $78.66.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 6th. Shareholders of record on Monday, June 21st will be given a $0.2068 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 1.15%. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, June 18th.

Institutional investors and hedge funds have recently made changes to their positions in the business. Barometer Capital Management Inc. bought a new position in West Fraser Timber in the 1st quarter valued at $2,965,000. Horizon Kinetics Asset Management LLC bought a new position in West Fraser Timber in the 1st quarter valued at $4,644,000. Forsta AP Fonden bought a new position in West Fraser Timber in the 1st quarter valued at $3,582,000. Waratah Capital Advisors Ltd. bought a new position in West Fraser Timber in the 1st quarter valued at $90,320,000. Finally, CWM Advisors LLC bought a new position in West Fraser Timber in the 1st quarter valued at $864,000.

About West Fraser Timber

West Fraser Timber Co Ltd., a diversified wood products company, produces and sells lumber, panels, and pulp and papers in western Canada and the southern United States. It offers spruce-pine-fir, Douglas Fir-Larch, Hem-Fir tree, and southern yellow pine lumber; treated wood products; and newsprint, wood chips, and other residuals and energy products, as well as bioproducts.

See Also: Dividend Reinvestment Plan (DRIP)

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