Western Forest Products Inc. (TSE:WEF – Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$0.55 and last traded at C$0.55, with a volume of 279560 shares traded. The stock had previously closed at C$0.56.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on WEF shares. Scotiabank set a C$0.80 price target on shares of Western Forest Products and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. CIBC dropped their price objective on Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating for the company in a report on Thursday, February 15th. Finally, TD Securities dropped their price objective on Western Forest Products from C$0.75 to C$0.65 and set a “hold” rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Western Forest Products currently has an average rating of “Hold” and a consensus price target of C$0.73.
Western Forest Products Stock Performance
Western Forest Products (TSE:WEF – Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.05) by C$0.01. Western Forest Products had a negative return on equity of 11.50% and a negative net margin of 6.73%. The business had revenue of C$246.60 million during the quarter. Analysts anticipate that Western Forest Products Inc. will post 0.004992 EPS for the current year.
Insiders Place Their Bets
In other news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of Western Forest Products stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of C$0.63 per share, with a total value of C$63,000.00. Insiders own 0.51% of the company’s stock.
About Western Forest Products
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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