Raymond James Cuts Western Forest Products (TSE:WEF) Price Target to C$0.50

Western Forest Products (TSE:WEF) had its target price lowered by Raymond James from C$0.60 to C$0.50 in a report released on Tuesday,BayStreet.CA reports. Raymond James also issued estimates for Western Forest Products’ FY2024 earnings at ($0.12) EPS, FY2025 earnings at ($0.15) EPS and FY2026 earnings at ($0.10) EPS.

Separately, TD Securities decreased their target price on shares of Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating for the company in a research report on Friday, November 8th.

Western Forest Products Stock Up 1.2 %

Shares of Western Forest Products stock opened at C$0.43 on Tuesday. The stock has a market capitalization of C$136.20 million, a price-to-earnings ratio of -3.07, a PEG ratio of 0.32 and a beta of 1.81. Western Forest Products has a twelve month low of C$0.39 and a twelve month high of C$0.72. The company has a current ratio of 2.97, a quick ratio of 0.73 and a debt-to-equity ratio of 18.43. The business’s 50 day simple moving average is C$0.43 and its 200-day simple moving average is C$0.45.

Western Forest Products (TSE:WEF) last issued its earnings results on Wednesday, November 6th. The company reported C($0.06) earnings per share for the quarter, missing the consensus estimate of C($0.03) by C($0.03). Western Forest Products had a negative return on equity of 7.64% and a negative net margin of 4.13%. The company had revenue of C$241.70 million during the quarter, compared to analyst estimates of C$242.00 million. Equities research analysts forecast that Western Forest Products will post 0.004992 earnings per share for the current year.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.