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

Western Forest Products (TSE:WEF) issued its earnings results on Tuesday. The company reported C($1.55) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$201.90 million for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%.

Western Forest Products Price Performance

TSE:WEF traded up C$0.53 during mid-day trading on Tuesday, hitting C$16.78. 36,269 shares of the company’s stock traded hands, compared to its average volume of 44,435. The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04. The firm’s 50 day simple moving average is C$12.66 and its 200 day simple moving average is C$12.35. Western Forest Products has a 1 year low of C$10.16 and a 1 year high of C$17.28. The company has a market cap of C$177.16 million, a PE ratio of -2.72, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James Financial boosted their target price on shares of Western Forest Products from C$10.00 to C$12.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 4th. Scotiabank raised their price objective on shares of Western Forest Products from C$12.50 to C$18.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$14.63.

About Western Forest Products

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.