Royal Bank of Canada Cuts Western Forest Products (TSE:WEF) Price Target to C$0.70

Western Forest Products (TSE:WEF) had its price objective lowered by stock analysts at Royal Bank of Canada from C$0.80 to C$0.70 in a research report issued on Thursday, BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential upside of 57.30% from the stock’s previous close.

Several other brokerages also recently weighed in on WEF. TD Securities decreased their target price on Western Forest Products from C$0.65 to C$0.60 and set a “hold” rating for the company in a research note on Thursday, May 9th. CIBC reduced their price objective on Western Forest Products from C$0.65 to C$0.60 in a research report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$0.69.

Western Forest Products Stock Performance

TSE:WEF traded down C$0.01 during mid-day trading on Thursday, hitting C$0.45. 410,265 shares of the company’s stock traded hands, compared to its average volume of 290,687. The firm has a 50 day moving average of C$0.49 and a two-hundred day moving average of C$0.59. Western Forest Products has a 12 month low of C$0.44 and a 12 month high of C$1.09. The firm has a market capitalization of C$140.95 million, a price-to-earnings ratio of -2.34, a price-to-earnings-growth ratio of 0.32 and a beta of 1.94. The company has a current ratio of 3.14, a quick ratio of 0.73 and a debt-to-equity ratio of 17.90.

Western Forest Products (TSE:WEF) last announced its earnings results on Tuesday, May 7th. The company reported C($0.02) earnings per share for the quarter. Western Forest Products had a negative net margin of 5.96% and a negative return on equity of 9.90%. The business had revenue of C$239.50 million for the quarter, compared to the consensus estimate of C$231.00 million. On average, equities analysts forecast that Western Forest Products will post 0.004992 earnings per share for the current fiscal 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.