Western Forest Products (TSE:WEF – Get Free Report) had its price target dropped by TD Securities from C$0.75 to C$0.65 in a report issued on Tuesday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price target would indicate a potential upside of 16.07% from the stock’s current price.
Several other analysts have also weighed in on WEF. Scotiabank set a C$0.80 target price on shares of Western Forest Products and gave the company a “sector perform” rating in a research report on Monday, January 22nd. CIBC reduced their price target on shares of Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating on the stock in a research report on Thursday, February 15th. Finally, Royal Bank of Canada reduced their target price on shares of Western Forest Products from C$1.00 to C$0.80 and set a “sector perform” rating on the stock in a research report on Tuesday, December 19th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$0.73.
Check Out Our Latest Analysis on WEF
Western Forest Products Trading Down 3.4 %
Western Forest Products (TSE:WEF – Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported C($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.01. The business had revenue of C$246.60 million for the quarter. Western Forest Products had a negative net margin of 6.73% and a negative return on equity of 11.50%. Research analysts forecast that Western Forest Products will post 0.004992 EPS for the current year.
Insider Activity
In other Western Forest Products news, Senior Officer Joseph Steven Hofer purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of C$0.63 per share, with a total value of C$63,000.00. Insiders own 0.51% of the company’s stock.
Western Forest Products Company Profile
Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.
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