Weyerhaeuser Given Consensus Recommendation of “Buy” by Analysts (NYSE:WY)
Weyerhaeuser (NYSE:WY) has received a consensus recommendation of “Buy” from the nine analysts that are covering the stock, Analyst Ratings News reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $36.64.
Shares of Weyerhaeuser (NYSE:WY) opened at 33.95 on Monday. Weyerhaeuser has a 52-week low of $26.91 and a 52-week high of $34.60. The stock has a 50-day moving average of $32.60 and a 200-day moving average of $30.83. The company has a market cap of $17.936 billion and a P/E ratio of 30.11. Weyerhaeuser also was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 22,205,681 shares, a decline of 11.9% from the July 31st total of 25,196,997 shares. Based on an average daily volume of 2,753,616 shares, the days-to-cover ratio is currently 8.1 days. Currently, 3.9% of the company’s stock are short sold.
Weyerhaeuser (NYSE:WY) last announced its 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. 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 3.42%. The ex-dividend date is Wednesday, August 27th. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.22.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of Weyerhaeuser from $36.00 to $39.00 in a research note on Monday, August 18th. They now have a “buy” rating on the stock. Separately, 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. Finally, 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.
In other Weyerhaeuser news, VP Rhonda D. Hunter unloaded 12,242 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $34.21, for a total value of $418,798.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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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