Western Forest Products (TSE:WEF) Issues Quarterly Earnings Results

Western Forest Products (TSE:WEF) announced its quarterly earnings results on Thursday. The company reported C($0.44) earnings per share (EPS) for the quarter, FiscalAI reports. Western Forest Products had a negative net margin of 9.64% and a negative return on equity of 17.78%. The company had revenue of C$237.00 million during the quarter.

Western Forest Products Stock Down 1.7%

WEF traded down C$0.27 during trading on Friday, hitting C$15.38. The company had a trading volume of 48,285 shares, compared to its average volume of 38,290. The company has a market cap of C$162.38 million, a PE ratio of -1.92, a P/E/G ratio of 0.32 and a beta of -0.32. The company has a debt-to-equity ratio of 12.63, a current ratio of 2.44 and a quick ratio of 0.73. Western Forest Products has a 1-year low of C$10.16 and a 1-year high of C$19.95. The business has a 50-day moving average of C$16.58 and a 200-day moving average of C$16.06.

Analysts Set New Price Targets

A number of research analysts have commented on WEF shares. Raymond James Financial boosted their price objective on Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. TD lowered their target price on Western Forest Products from C$20.00 to C$17.00 and set a “hold” rating for the company in a research note on Wednesday, October 14th. Finally, Royal Bank Of Canada raised their target price on Western Forest Products from C$16.00 to C$18.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Five investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$17.80.

Western Forest Products Company Profile

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 785 million board feet from five sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities.