Weyerhaeuser Now Covered by JPMorgan Chase & Co. (WY)
Stock analysts at JPMorgan Chase & Co. started coverage on shares of Weyerhaeuser (NYSE:WY) in a report issued on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Weyerhaeuser (NYSE:WY) opened at 33.90 on Friday. Weyerhaeuser has a one year low of $27.48 and a one year high of $34.60. The stock’s 50-day moving average is $32.79 and its 200-day moving average is $30.94. The company has a market cap of $17.910 billion and a P/E ratio of 29.89. Weyerhaeuser also saw a significant drop in short interest in August. As of August 15th, there was short interest totalling 22,205,681 shares, a drop of 11.9% from the July 31st total of 25,196,997 shares. Currently, 3.9% of the company’s stock are sold short. Based on an average daily volume of 2,753,616 shares, the short-interest ratio is currently 8.1 days.
Weyerhaeuser (NYSE:WY) last announced its earnings results on Friday, August 1st. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts expect that Weyerhaeuser will post $1.34 EPS 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 3.42%. The ex-dividend date is Wednesday, August 27th. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.22.
A number of other firms have also recently commented on WY. Analysts at BMO Capital Markets initiated coverage on shares of Weyerhaeuser in a research note on Wednesday. They set an “outperform” rating and a $39.00 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Weyerhaeuser currently has a consensus rating of “Buy” and a consensus target price of $36.93.
In other Weyerhaeuser news, VP Rhonda D. Hunter sold 12,242 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $34.21, for a total value of $418,798.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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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