West Fraser Timber (TSE:WFG) Stock Price Down 1.2% – Here’s Why

West Fraser Timber Co. Ltd. (TSE:WFG)’s stock price dropped 1.2% during trading on Friday . The stock traded as low as C$93.91 and last traded at C$94.52. Approximately 126,662 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 171,706 shares. The stock had previously closed at C$95.67.

Wall Street Analyst Weigh In

Separately, Canadian Imperial Bank of Commerce lowered their price objective on shares of West Fraser Timber from C$102.00 to C$100.00 in a research report on Friday, May 1st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$96.50.

West Fraser Timber Stock Performance

The firm has a 50 day moving average of C$96.07 and a 200-day moving average of C$92.33. The stock has a market capitalization of C$7.40 billion, a PE ratio of -6.16 and a beta of 1.13. The company has a debt-to-equity ratio of 6.83, a quick ratio of 2.10 and a current ratio of 2.06.

West Fraser Timber (TSE:WFG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C($1.11) EPS for the quarter. West Fraser Timber had a negative return on equity of 24.96% and a negative net margin of 26.37%.The business had revenue of C$2.04 billion for the quarter. Research analysts forecast that West Fraser Timber Co. Ltd. will post 8.1184776 earnings per share for the current year.

West Fraser Timber Company Profile

West Fraser is a diversified wood products company with more than 50 facilities in Canada , the United States , the United Kingdom , and Europe , which promotes sustainable forest practices in its operations. The Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), northern bleached softwood kraft pulp, paper, wood chips, and other residuals. West Fraser’s products are used in home construction, repair and remodelling, industrial applications, papers and tissue.