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

Western Forest Products (TSE:WEF) announced its earnings results on Thursday. The company reported C($0.44) earnings per share for the quarter, FiscalAI reports. Western Forest Products had a negative return on equity of 17.78% and a negative net margin of 9.64%. The business had revenue of C$237.00 million for the quarter.

Western Forest Products Price Performance

Shares of TSE:WEF traded down C$0.72 on Thursday, reaching C$15.65. 30,232 shares of the company were exchanged, compared to its average volume of 38,243. The company has a 50-day moving average of C$16.64 and a 200-day moving average of C$16.05. The company has a current ratio of 2.44, a quick ratio of 0.73 and a debt-to-equity ratio of 12.63. The firm has a market cap of C$165.23 million, a price-to-earnings ratio of -1.96, a price-to-earnings-growth ratio of 0.32 and a beta of -0.32. Western Forest Products has a 1-year low of C$10.16 and a 1-year high of C$19.95.

Analyst Ratings Changes

Several brokerages recently issued reports on WEF. TD dropped their price target on Western Forest Products from C$20.00 to C$17.00 and set a “hold” rating on the stock in a research report on Wednesday, October 14th. Royal Bank Of Canada increased their price objective 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 increased their price objective 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 research analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$17.80.

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.