Equities Analysts Offer Predictions for Western Forest Products Inc.'s FY2022 Earnings (TSE:WEF)

Defense World ·  02/02/2023 14:32

Western Forest Products Inc. (TSE:WEF – Get Rating) – Stock analysts at Raymond James reduced their FY2022 EPS estimates for Western Forest Products in a research note issued to investors on Monday, January 30th. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings of $0.18 per share for the year, down from their prior estimate of $0.23. 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' Q4 2022 earnings at ($0.06) EPS and FY2023 earnings at $0.05 EPS.

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

WEF has been the topic of a number of other research reports. Scotiabank decreased their price target on shares of Western Forest Products from C$2.00 to C$1.75 in a research note on Monday, January 9th. CIBC reduced their target price on shares of Western Forest Products from C$1.50 to C$1.25 in a research note on Tuesday, January 10th. Royal Bank of Canada reduced their target price on shares of Western Forest Products from C$1.75 to C$1.50 and set a "sector perform" rating on the stock in a research note on Friday, November 4th. Finally, TD Securities downgraded shares of Western Forest Products from a "buy" rating to a "hold" rating and reduced their target price for the company from C$1.80 to C$1.40 in a research note on Monday, November 7th.

Western Forest Products Stock Down 4.2 %

WEF opened at C$1.36 on Wednesday. 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 debt-to-equity ratio of 3.22, a current ratio of 2.56 and a quick ratio of 0.73. The firm's fifty day moving average price is C$1.19 and its two-hundred day moving average price is C$1.32. The company has a market capitalization of C$430.77 million and a P/E ratio of 4.00.

Western Forest Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 16th were issued a dividend of $0.0125 per share. The ex-dividend date of this dividend was Thursday, November 24th. This represents a $0.05 annualized dividend and a yield of 3.68%. Western Forest Products's dividend payout ratio is currently 13.24%.

Insiders Place Their Bets

In other news, Director John Patrick Williamson acquired 100,000 shares of the company's stock in a transaction on Friday, November 18th. The stock was purchased at an average cost of C$1.11 per share, with a total value of C$111,354.00. Following the acquisition, the director now owns 134,000 shares of the company's stock, valued at approximately 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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