Raymond James Weighs in on Western Forest Products Inc.’s FY2024 Earnings (TSE:WEF)

Western Forest Products Inc. (TSE:WEF) – Raymond James boosted their FY2024 earnings per share estimates for Western Forest Products in a research report issued on Tuesday, May 7th. Raymond James analyst D. Swetlishoff now forecasts that the company will post earnings per share of ($0.13) for the year, up from their prior estimate of ($0.16). The consensus estimate for Western Forest Products’ current full-year earnings is $0.00 per share.

Western Forest Products (TSE:WEF) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C($0.04) earnings per share for the quarter, beating the consensus estimate 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 for the quarter.

A number of other analysts have also commented on WEF. Scotiabank set a C$0.80 price target on Western Forest Products and gave the stock a “sector perform” rating in a report on Monday, January 22nd. TD Securities cut their price target on shares of Western Forest Products from C$0.65 to C$0.60 and set a “hold” rating on the stock in a report on Thursday. Finally, CIBC lowered their price objective on shares of Western Forest Products from C$0.65 to C$0.60 in a research report on Thursday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, Western Forest Products has a consensus rating of “Hold” and a consensus target price of C$0.71.

Western Forest Products Trading Down 5.6 %

TSE:WEF opened at C$0.51 on Friday. Western Forest Products has a 52 week low of C$0.51 and a 52 week high of C$1.14. The firm has a 50-day moving average price of C$0.58 and a two-hundred day moving average price of C$0.65. The company has a debt-to-equity ratio of 18.42, a quick ratio of 0.73 and a current ratio of 2.77. The firm has a market cap of C$161.54 million, a price-to-earnings ratio of -2.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.92.

Insider Transactions at Western Forest Products

In other news, Senior Officer Joseph Steven Hofer acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of C$0.63 per share, with a total value of C$63,000.00. 0.67% of the stock is owned by corporate insiders.

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.