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

Western Forest Products (TSE:WEF) released its quarterly earnings data on Wednesday. The company reported C($1.83) earnings per share for the quarter, FiscalAI reports. Western Forest Products had a negative net margin of 8.09% and a negative return on equity of 15.26%. The firm had revenue of C$201.50 million for the quarter.

Western Forest Products Stock Up 3.2%

Shares of WEF opened at C$14.39 on Thursday. The company has a market capitalization of C$151.93 million, a PE ratio of -1.90, a PEG ratio of 0.32 and a beta of 0.24. Western Forest Products has a 12 month low of C$10.16 and a 12 month high of C$17.28. The stock’s 50-day moving average price is C$14.20 and its two-hundred day moving average price is C$13.04. The company has a current ratio of 2.85, a quick ratio of 0.73 and a debt-to-equity ratio of 12.40.

Analyst Upgrades and Downgrades

WEF has been the topic of several recent research reports. Royal Bank Of Canada raised their price objective on Western Forest Products from C$13.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, April 16th. Raymond James Financial raised their price objective on Western Forest Products from C$12.00 to C$13.50 and gave the company a “market perform” rating in a report on Friday, February 20th. TD Securities raised their price objective on Western Forest Products from C$14.00 to C$16.00 and gave the company a “hold” rating in a report on Thursday, February 12th. Scotiabank raised their price objective on Western Forest Products from C$12.50 to C$18.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Finally, TD raised their price objective on Western Forest Products from C$16.00 to C$17.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$15.70.

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.