Western Forest Products (WEF) Posts Quarterly Earnings, Hits Estimates
Western Forest Products (TSE:WEF) posted its quarterly earnings results on Friday. The company reported $0.07 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.07, AR Network reports.
Shares of Western Forest Products (TSE:WEF) opened at 2.30 on Friday. Western Forest Products has a 52 week low of $1.34 and a 52 week high of $2.68. The stock’s 50-day moving average is $2.21 and its 200-day moving average is $2.32. The company has a market cap of $901.3 million and a price-to-earnings ratio of 7.53.
WEF has been the subject of a number of recent research reports. Analysts at Raymond James cut their price target on shares of Western Forest Products from C$3.15 to C$3.00 in a research note on Wednesday, July 23rd. They now have a “strong-buy” rating on the stock. Analysts at Scotiabank reiterated an “outperform” rating on shares of Western Forest Products in a research note on Friday, May 9th. They now have a C$2.60 price target on the stock. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$2.84.
Western Forest Products Inc (TSE:WEF) is an integrated softwood forest products company.
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