TD Securities Lowers Western Forest Products (TSE:WEF) Price Target to C$0.50

Western Forest Products (TSE:WEF) had its price objective lowered by investment analysts at TD Securities from C$0.55 to C$0.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ price objective would suggest a potential upside of 8.70% from the company’s current price.

Other equities analysts have also issued reports about the company. Royal Bank of Canada decreased their target price on Western Forest Products from C$0.80 to C$0.70 in a research note on Thursday, July 11th. CIBC cut their price target on shares of Western Forest Products from C$0.60 to C$0.50 in a research note on Thursday, July 18th.

Western Forest Products Price Performance

Western Forest Products stock remained flat at C$0.46 during midday trading on Friday. The company had a trading volume of 250,509 shares, compared to its average volume of 370,989. The company has a debt-to-equity ratio of 18.43, a current ratio of 2.97 and a quick ratio of 0.73. The firm has a market cap of C$145.71 million, a price-to-earnings ratio of -3.21, a PEG ratio of 0.32 and a beta of 1.81. Western Forest Products has a fifty-two week low of C$0.41 and a fifty-two week high of C$0.77. The business has a 50 day moving average of C$0.49 and a 200-day moving average of C$0.48.

Western Forest Products (TSE:WEF) last announced its quarterly 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 net margin of 4.13% and a negative return on equity of 7.64%. The company had revenue of C$241.70 million during the quarter, compared to analysts’ expectations of C$242.00 million. Equities research analysts expect that Western Forest Products will post 0.004992 EPS for the current year.

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.