Raymond James Equities analysts cut earnings estimates for Western Forest Products Inc. (TSE:WEF)

Western Forest Products Inc. (TSE:WEF) – Investment analysts Raymond James have cut their earnings per share (EPS) estimates for fiscal 2021 for shares of Western Forest Products in a note released to investors on Wednesday 2 February. Raymond James analyst D. Swetlishoff now expects the company to post earnings of $0.57 per share for the year, down from its previous forecast of $0.58. Raymond James has an “outperform” rating and a price target of $2.90 on the stock. Raymond James also released earnings estimates for Western Forest Products for the fourth quarter of 2021 at $0.08 EPS and earnings for the full year 2022 at $0.36 EPS.

The WEF has been the subject of several other reports. Royal Bank of Canada cut its target price on Western Forest Products from C$3.00 to C$2.75 and set an “outperform” rating for the company in a report released Friday, Nov. 5. CIBC raised its target price on Western Forest Products from C$2.00 to C$2.25 in a Monday, January 10 research note. Finally, TD Securities raised its price target on Western Forest Products from C$2.25 to C$2.50 in a Wednesday, January 5 report.

The WEF opened at C$2.01 on Friday. The company has a 50-day moving average price of C$2.03 and a 200-day moving average price of C$2.04. The stock has a market cap of C$686.36 million and a price-earnings ratio of 3.58. Western Forest Products has a 12-month low of C$1.33 and a 12-month high of C$2.58. The company has a debt ratio of 3.19, a current ratio of 2.23 and a quick ratio of 1.12. Western Forest Products (TSE:WEF) last released its results on Wednesday, November 3. The company reported EPS of C$0.12 for the quarter, beating the Zacks consensus estimate of C$0.11 by C$0.01. The company recorded revenue of C$352.90 million during the quarter.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, December 17. Shareholders of record on Friday, December 17 received a dividend of $0.01 per share. This represents an annualized dividend of $0.04 and a yield of 1.99%. The ex-dividend date was Thursday, November 25. Western Forest Products’ payout ratio is 5.34%.

About Western Forest Products

Western Forest Products Inc operates as an integrated softwood forest products business. It is involved in the harvesting of timber, the sawing of logs into specialty lumber, the refinishing of value-added lumber, and the purchase and wholesale of lumber. The company offers a variety of products for outdoor living spaces, such as structures, decks, landscaping and fencing; house components, including trim and framing timbers, log houses and framing, as well as siding, panels, trim and soffits; and furniture, moldings and decorative objects, as well as doors, windows and stair components.

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