Raymond James Comments on Western Forest Products Inc’s Q2 2019 Earnings (TSE:WEF)

Western Forest Products Inc (TSE:WEF) – Analysts at Raymond James dropped their Q2 2019 earnings per share estimates for Western Forest Products in a research note issued to investors on Tuesday, July 16th. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings of $0.02 per share for the quarter, down from their previous estimate of $0.06. Raymond James has a “Market Perform” rating and a $2.20 price objective on the stock. Raymond James also issued estimates for Western Forest Products’ Q3 2019 earnings at $0.03 EPS and FY2019 earnings at $0.11 EPS.

WEF has been the topic of several other reports. Scotiabank restated an “average” rating and set a C$2.25 target price on shares of Western Forest Products in a research note on Monday, May 6th. CIBC reissued a “hold” rating on shares of Just Energy Group in a report on Friday, June 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 485 ($6.34) price target on shares of in a report on Tuesday, July 9th. Finally, TD Securities cut Western Forest Products from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$2.25 to C$2.00 in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of C$2.04.

Shares of TSE WEF opened at C$1.46 on Thursday. Western Forest Products has a twelve month low of C$1.41 and a twelve month high of C$2.62. The firm’s fifty day moving average price is C$1.58. The company has a market cap of $555.07 million and a price-to-earnings ratio of 11.50. The company has a current ratio of 2.36, a quick ratio of 0.75 and a debt-to-equity ratio of 17.98.

In other Western Forest Products news, Senior Officer Shannon Janzen purchased 15,200 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of C$1.66 per share, for a total transaction of C$25,232.00. Following the completion of the purchase, the insider now directly owns 58,200 shares in the company, valued at C$96,612.

About Western Forest Products

Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.

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