Analysts Offer Predictions for Western Forest Products Inc.'s Q1 2023 Earnings (TSE:WEF)

Defense World ·  02/01/2023 14:52

Western Forest Products Inc. (TSE:WEF – Get Rating) – Research analysts at Raymond James issued their Q1 2023 earnings estimates for shares of Western Forest Products in a note issued to investors on Monday, January 30th. Raymond James analyst D. Swetlishoff forecasts that the company will post earnings of ($0.01) per share for the quarter. The consensus estimate for Western Forest Products' current full-year earnings is $0.16 per share. Raymond James also issued estimates for Western Forest Products' Q2 2023 earnings at $0.01 EPS, Q3 2023 earnings at $0.03 EPS, Q4 2023 earnings at $0.03 EPS and FY2024 earnings at $0.11 EPS.

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Western Forest Products (TSE:WEF – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported C$0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C($0.02) by C$0.04. The company had revenue of C$356.00 million for the quarter.

Several other equities research analysts also recently commented on the stock. Scotiabank lowered their target price on shares of Western Forest Products from C$2.00 to C$1.75 in a research note on Monday, January 9th. Royal Bank of Canada decreased their target price on Western Forest Products from C$1.75 to C$1.50 and set a "sector perform" rating for the company in a research note on Friday, November 4th. TD Securities lowered Western Forest Products from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$1.80 to C$1.40 in a research report on Monday, November 7th. Finally, CIBC decreased their price objective on Western Forest Products from C$1.50 to C$1.25 in a research report on Tuesday, January 10th.

Western Forest Products Stock Performance

Shares of TSE:WEF opened at C$1.42 on Tuesday. The firm's 50 day simple moving average is C$1.19 and its 200 day simple moving average is C$1.32. Western Forest Products has a fifty-two week low of C$1.03 and a fifty-two week high of C$2.29. The company has a market capitalization of C$449.78 million and a price-to-earnings ratio of 4.18. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.56 and a quick ratio of 0.73.

Western Forest Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 16th were paid a $0.0125 dividend. This represents a $0.05 annualized dividend and a yield of 3.52%. The ex-dividend date was Thursday, November 24th. Western Forest Products's payout ratio is 13.24%.

Insiders Place Their Bets

In other Western Forest Products news, Director John Patrick Williamson acquired 100,000 shares of the stock in a transaction dated Friday, November 18th. The shares were bought at an average cost of C$1.11 per share, for a total transaction of C$111,354.00. Following the completion of the acquisition, the director now directly owns 134,000 shares of the company's stock, valued at C$149,214.36.

About Western Forest Products

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Western Forest Products Inc engages in the timber harvesting, sawmilling logs into specialty lumber, value-added lumber remanufacturing, and lumber purchasing and wholesaling businesses. Its products have applications in outdoor living; exterior appearance; interior living; and structural applications.

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