Weyerhaeuser Company (WY) Releases Quarterly Earnings Results
Weyerhaeuser Company (NYSE:WY) released its quarterly earnings results on Friday. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03, MarketWatch Earnings reports. Weyerhaeuser had a return on equity of 7.17% and a net margin of 14.09%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the firm posted $0.30 EPS. The company’s revenue was up 9.5% compared to the same quarter last year.
Shares of Weyerhaeuser (NYSE:WY) traded up 1.81% during trading on Friday, reaching $35.51. The company had a trading volume of 4,282,130 shares. Weyerhaeuser has a 52 week low of $28.58 and a 52 week high of $35.89. The company has a market capitalization of $26.74 billion, a PE ratio of 27.92 and a beta of 1.39. The stock’s 50-day moving average price is $34.04 and its 200-day moving average price is $33.40.
In other news, Director Rick R. Holley sold 227,341 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $35.05, for a total transaction of $7,968,302.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Barnett & Company Inc. purchased a new stake in Weyerhaeuser in the second quarter valued at approximately $101,000. Dupont Capital Management Corp purchased a new stake in shares of Weyerhaeuser during the second quarter worth $109,000. Alexandria Capital LLC increased its position in shares of Weyerhaeuser by 0.3% during the second quarter. Alexandria Capital LLC now owns 3,486 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 12 shares during the period. Gemmer Asset Management LLC increased its position in shares of Weyerhaeuser by 0.5% during the second quarter. Gemmer Asset Management LLC now owns 4,146 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 20 shares during the period. Finally, First Command Bank increased its position in shares of Weyerhaeuser by 73.1% during the second quarter. First Command Bank now owns 4,178 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 1,765 shares during the period. 75.29% of the stock is currently owned by institutional investors.
Several analysts have weighed in on the company. Zacks Investment Research cut Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub cut Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $40.00 price target on shares of Weyerhaeuser in a research note on Monday, September 4th. Bank of America Corporation cut Weyerhaeuser from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $35.00 in a research note on Wednesday, July 5th. Finally, JMP Securities cut Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Weyerhaeuser presently has an average rating of “Hold” and an average target price of $37.00.
Weyerhaeuser Company Profile
Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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