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

Western Forest Products (TSE:WEF) posted its earnings results on Wednesday. The company reported C$1.10 EPS for the quarter, FiscalAI reports. The company had revenue of C$239.60 million for the quarter. Western Forest Products had a negative return on equity of 22.88% and a negative net margin of 12.23%.

Western Forest Products Price Performance

Shares of WEF stock traded up C$0.08 during trading on Friday, hitting C$18.82. The company had a trading volume of 23,955 shares, compared to its average volume of 41,154. The firm has a market capitalization of C$198.70 million, a P/E ratio of -1.76, a price-to-earnings-growth ratio of 0.32 and a beta of 0.23. Western Forest Products has a one year low of C$10.16 and a one year high of C$19.40. The company has a debt-to-equity ratio of 15.10, a quick ratio of 0.73 and a current ratio of 2.63. The stock’s 50-day moving average price is C$17.83 and its 200 day moving average price is C$15.70.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WEF. Raymond James Financial upped their price objective on Western Forest Products from C$12.50 to C$20.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Royal Bank Of Canada lifted their target price on Western Forest Products from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a report on Thursday, April 16th. Finally, TD boosted their target price on shares of Western Forest Products from C$17.00 to C$19.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Western Forest Products has a consensus rating of “Hold” and a consensus target price of C$17.40.

Insiders Place Their Bets

In related news, Director Elizabeth Kernaghan sold 1,800 shares of the business’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of C$19.05, for a total value of C$34,290.00. Following the completion of the transaction, the director owned 1,889,000 shares of the company’s stock, valued at C$35,985,450. The trade was a 0.10% decrease in their ownership of the stock. Also, insider Kernwood Limited sold 2,700 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of C$19.00, for a total value of C$51,300.00. Following the completion of the transaction, the insider directly owned 1,900,800 shares of the company’s stock, valued at approximately C$36,115,200. This trade represents a 0.14% decrease in their position. In the last 90 days, insiders have sold 14,200 shares of company stock worth $270,980. Corporate insiders own 0.67% of the company’s stock.

Western Forest Products Company Profile

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company’s largest markets and contribute the vast majority of its total revenue.