Scotiabank Lowers Western Forest Products (TSE:WEF) Price Target to C$1.50

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Western Forest Products (TSE:WEF) had its target price cut by investment analysts at Scotiabank from C$1.75 to C$1.50 in a note issued to investors on Tuesday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 130.77% from the company’s previous close.

WEF has been the subject of several other research reports. TD Securities raised their price objective on shares of Western Forest Products from C$1.25 to C$1.50 and gave the company a “hold” rating in a research note on Thursday, February 13th. Raymond James set a C$1.50 price objective on shares of Western Forest Products and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Royal Bank of Canada raised shares of Western Forest Products from a “sector perform” rating to an “outperform” rating and set a C$1.25 price objective for the company in a research note on Tuesday, March 17th. Finally, CIBC raised their price objective on shares of Western Forest Products from C$1.25 to C$1.50 in a research note on Friday, February 14th.

TSE WEF opened at C$0.65 on Tuesday. The firm has a 50 day simple moving average of C$1.05 and a 200-day simple moving average of C$1.18. The company has a debt-to-equity ratio of 27.62, a quick ratio of 0.87 and a current ratio of 3.89. Western Forest Products has a one year low of C$0.58 and a one year high of C$2.02. The firm has a market cap of $236.37 million and a price-to-earnings ratio of -5.28.

Western Forest Products (TSE:WEF) last posted its quarterly earnings data on Tuesday, February 11th. The company reported C($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.07) by C($0.02). The firm had revenue of C$80.10 million for the quarter. Equities analysts predict that Western Forest Products will post 0.09 EPS for the current fiscal year.

About Western Forest Products

Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.

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