Western Forest Products (TSE:WEF – Get Free Report) had its price objective lowered by stock analysts at TD Securities from C$0.75 to C$0.65 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 16.07% from the stock’s previous close.
Several other equities analysts have also weighed in on the stock. CIBC reduced their target price on shares of Western Forest Products from C$0.75 to C$0.65 and set a “neutral” rating on the stock in a report on Thursday, February 15th. Scotiabank set a C$0.80 price target on shares of Western Forest Products and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada dropped their price target 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 note on Tuesday, December 19th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Western Forest Products has an average rating of “Hold” and an average price target of C$0.73.
View Our Latest Analysis on WEF
Western Forest Products Price Performance
Western Forest Products (TSE:WEF – Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.05) by C$0.01. Western Forest Products had a negative net margin of 6.73% and a negative return on equity of 11.50%. The business had revenue of C$246.60 million during the quarter. On average, equities analysts predict 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 bought 100,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of C$0.63 per share, with a total value of C$63,000.00. 0.51% of the stock is owned by company insiders.
About Western Forest Products
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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