Argus Increases Weyerhaeuser Price Target to $39.00 (WY)
Investment analysts at Argus lifted their price objective on shares of Weyerhaeuser (NYSE:WY) from $36.00 to $39.00 in a note issued to investors on Monday. The firm currently has a “buy” rating on the stock. Argus’ price objective indicates a potential upside of 18.33% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Longbow Research raised their price target on shares of Weyerhaeuser from $35.00 to $39.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $36.64.
Weyerhaeuser (NYSE:WY) traded up 1.33% during mid-day trading on Monday, hitting $33.40. The stock had a trading volume of 1,555,241 shares. Weyerhaeuser has a 1-year low of $26.64 and a 1-year high of $33.75. The stock has a 50-day moving average of $32.30 and a 200-day moving average of $30.56. The company has a market cap of $17.645 billion and a P/E ratio of 29.07. Weyerhaeuser also was the recipient of a large drop in short interest in the month of 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. Based on an average trading volume of 4,538,444 shares, the short-interest ratio is currently 5.6 days. Approximately 4.4% of the shares of the stock are sold short.
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.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Wednesday, August 27th. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.22.
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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