Western Forest Products (TSE:WEF) Share Price Breaks Below 200-Day Moving Average – Here’s Why

Western Forest Products Inc. (TSE:WEF)’s share price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$16.70 and traded as low as C$14.34. Western Forest Products shares last traded at C$14.99, with a volume of 30,941 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WEF shares. TD lowered their price target on Western Forest Products from C$20.00 to C$17.00 and set a “hold” rating for the company in a report on Wednesday, October 14th. Royal Bank Of Canada upped their target price on Western Forest Products from C$16.00 to C$18.00 and gave the stock a “sector perform” rating in a research report on Friday, August 14th. Finally, Raymond James Financial upped their target price on Western Forest Products from C$12.50 to C$20.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$17.80.

Western Forest Products Price Performance

The business has a fifty day moving average of C$17.24 and a 200 day moving average of C$16.70. The company has a debt-to-equity ratio of 12.63, a current ratio of 2.44 and a quick ratio of 0.73. The stock has a market cap of C$165.34 million, a PE ratio of -1.96, a P/E/G ratio of 0.32 and a beta of -0.06.

Western Forest Products (TSE:WEF) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$1.10 earnings per share (EPS) for the quarter. Western Forest Products had a negative return on equity of 17.78% and a negative net margin of 9.64%. The company had revenue of C$239.60 million for the quarter. Sell-side analysts anticipate that Western Forest Products Inc. will post 0.00 earnings per share for the current year.

About Western Forest Products

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.