Weyerhaeuser Co. (WY) Given “Buy” Rating at Argus
Weyerhaeuser Co. (NYSE:WY)‘s stock had its “buy” rating reissued by investment analysts at Argus in a research note issued to investors on Tuesday.
Other analysts have also issued research reports about the stock. Citigroup Inc. upped their target price on shares of Weyerhaeuser from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Zacks Investment Research upgraded shares of Weyerhaeuser from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. DA Davidson upgraded shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday, June 29th. They noted that the move was a valuation call. Finally, Dundee Securities lowered shares of Weyerhaeuser from a “buy” rating to a “neutral” rating in a research report on Friday, August 12th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Weyerhaeuser presently has an average rating of “Buy” and a consensus target price of $35.00.
Weyerhaeuser (NYSE:WY) opened at 30.13 on Tuesday. The firm has a market capitalization of $22.56 billion, a PE ratio of 38.83 and a beta of 1.44. The stock has a 50 day moving average of $31.58 and a 200 day moving average of $30.92. Weyerhaeuser has a 12 month low of $22.06 and a 12 month high of $33.17.
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Weyerhaeuser (NYSE:WY) last posted its earnings results on Friday, August 5th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Weyerhaeuser had a return on equity of 8.35% and a net margin of 7.24%. The firm earned $1.41 billion during the quarter, compared to the consensus estimate of $7.54 billion. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 23.0% compared to the same quarter last year. On average, equities analysts predict that Weyerhaeuser will post $1.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.24 dividend on an annualized basis and a yield of 4.12%. Weyerhaeuser’s dividend payout ratio is presently 158.98%.
In other news, VP Rhonda D. Hunter sold 3,292 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $30.00, for a total value of $98,760.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Rhonda D. Hunter sold 3,318 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $33.00, for a total transaction of $109,494.00. Following the completion of the sale, the vice president now directly owns 61,768 shares in the company, valued at $2,038,344. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Large investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Weyerhaeuser by 55.0% in the first quarter. State Street Corp now owns 33,117,766 shares of the real estate investment trust’s stock worth $1,025,997,000 after buying an additional 11,754,704 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Weyerhaeuser by 48.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 20,424,048 shares of the real estate investment trust’s stock worth $632,737,000 after buying an additional 6,697,773 shares during the last quarter. Capital World Investors increased its stake in shares of Weyerhaeuser by 37.0% in the second quarter. Capital World Investors now owns 22,619,766 shares of the real estate investment trust’s stock worth $673,390,000 after buying an additional 6,112,230 shares during the last quarter. Norges Bank purchased a new stake in shares of Weyerhaeuser during the fourth quarter worth about $133,093,000. Finally, 1832 Asset Management L.P. increased its stake in shares of Weyerhaeuser by 253.5% in the second quarter. 1832 Asset Management L.P. now owns 5,435,470 shares of the real estate investment trust’s stock worth $162,871,000 after buying an additional 3,897,970 shares during the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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