Raymond James Lowers Western Forest Products (TSE:WEF) Price Target to C$0.50

Western Forest Products (TSE:WEF) had its price target cut by Raymond James from C$0.60 to C$0.50 in a report issued on Tuesday,BayStreet.CA reports. Raymond James’ target price points to a potential upside of 16.28% from the stock’s current price.

Separately, TD Securities cut their price target on Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating on the stock in a report on Friday, November 8th.

Western Forest Products Stock Down 1.1 %

Shares of Western Forest Products stock traded down C$0.01 during trading on Tuesday, reaching C$0.43. The company had a trading volume of 60,274 shares, compared to its average volume of 291,309. 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 has a fifty-two week low of C$0.39 and a fifty-two week high of C$0.72. The firm’s fifty day moving average is C$0.43 and its 200-day moving average is C$0.45. The company has a market cap of C$136.20 million, a price-to-earnings ratio of -3.07, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81.

Western Forest Products (TSE:WEF) last released its 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 business had revenue of C$241.70 million for the quarter, compared to the consensus estimate of C$242.00 million. On average, analysts anticipate that Western Forest Products will post 0.004992 EPS for the current year.

Western Forest Products Company Profile

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.