Weyerhaeuser Co Declares Quarterly Dividend of $0.29 (WY)
Weyerhaeuser (NYSE:WY) announced a quarterly dividend on Wednesday, August 13th, Analyst RN reports. Shareholders of record on Friday, August 29th will be paid a dividend of 0.29 per share on Friday, September 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.59%.
A number of research firms have recently commented on WY. Analysts at Zacks reiterated a “neutral” rating on shares of Weyerhaeuser in a research note on Thursday, August 7th. They now have a $33.00 price target on the stock. On a related note, analysts at RBC Capital raised their price target on shares of Weyerhaeuser from $36.00 to $37.00 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock. Finally, analysts at DA Davidson upgraded shares of Weyerhaeuser from a “neutral” rating to a “buy” rating in a research note on Monday, August 4th. They now have a $37.00 price target on the stock, up previously from $33.00. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.42.
Shares of Weyerhaeuser (NYSE:WY) traded up 0.03% during mid-day trading on Wednesday, hitting $32.34. 1,438,553 shares of the company’s stock traded hands. Weyerhaeuser has a 1-year low of $26.64 and a 1-year high of $33.75. The stock’s 50-day moving average is $32. and its 200-day moving average is $30.52. The company has a market cap of $17.085 billion and a P/E ratio of 28.51. Weyerhaeuser also saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 25,196,997 shares, a drop of 69.2% from the July 15th total of 81,719,472 shares. Approximately 4.4% of the shares of the company are sold short. Based on an average daily trading volume, of 4,538,444 shares, the days-to-cover ratio is currently 5.6 days.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.43 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.08. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company posted $0.35 earnings per share. Weyerhaeuser’s revenue was up 4.8% compared to the same quarter last year. On average, analysts predict that Weyerhaeuser will post $1.34 earnings per share for the current fiscal year.
Weyerhaeuser Company, formerly Weyerhaeuser Timber Company, is a forest products company. The Company is engaged in growing and harvesting trees, builds homes and making a range of forest products.
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