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

Western Forest Products (TSE:WEF) had its price target dropped by TD Securities from C$0.55 to C$0.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ target price would indicate a potential upside of 8.70% from the stock’s current price.

Several other analysts also recently weighed in on the company. CIBC cut their price target on Western Forest Products from C$0.60 to C$0.50 in a research note on Thursday, July 18th. Royal Bank of Canada reduced their target price on Western Forest Products from C$0.80 to C$0.70 in a report on Thursday, July 11th.

Western Forest Products Stock Performance

TSE WEF remained flat at C$0.46 on Friday. The company’s stock had a trading volume of 250,509 shares, compared to its average volume of 370,989. The firm has a market capitalization of C$145.71 million, a price-to-earnings ratio of -3.21, a P/E/G ratio of 0.32 and a beta of 1.81. Western Forest Products has a 1-year low of C$0.41 and a 1-year high of C$0.77. The firm’s 50-day simple moving average is C$0.49 and its 200-day simple moving average is C$0.48. The company has a debt-to-equity ratio of 18.43, a quick ratio of 0.73 and a current ratio of 2.97.

Western Forest Products (TSE:WEF) last released 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 the consensus estimate of C$242.00 million. On average, research analysts forecast that Western Forest Products will post 0.004992 EPS for the current fiscal year.

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.