Weyerhaeuser Sets New 12-Month High Following Analyst Upgrade (WY)
Weyerhaeuser (NYSE:WY) reached a new 52-week high on Tuesday after Argus raised their price target on the stock from $36.00 to $39.00, AnalystRatings.NET reports. Argus currently has a buy rating on the stock. Weyerhaeuser traded as high as $33.95 and last traded at $33.94, with a volume of 1,369,711 shares. The stock had previously closed at $33.42.
WY has been the subject of a number of other recent research reports. Analysts at Longbow Research raised their price target on shares of Weyerhaeuser from $35.00 to $39.00 in a research note on Thursday, August 14th. 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 given a hold rating and six have issued a buy rating to the stock. Weyerhaeuser currently has an average rating of “Buy” and a consensus price target of $36.64.
The stock’s 50-day moving average is $32.33 and its 200-day moving average is $30.58. The company has a market cap of $17.952 billion and a price-to-earnings ratio of 29.47. Weyerhaeuser also was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 25,196,997 shares, a decrease 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. Currently, 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 (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. 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. Stockholders 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 3.48%. The ex-dividend date is Wednesday, August 27th. This is a boost 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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