Argus reiterated their buy rating on shares of Weyerhaeuser Co. (NYSE:WY) in a report published on Tuesday morning. They currently have a $35.00 target price on the real estate investment trust’s stock.
Other analysts have also issued reports about the stock. Citigroup Inc. upped their price target on shares of Weyerhaeuser from $36.00 to $37.00 and gave the stock a buy rating in a research report on Monday, August 8th. DA Davidson raised shares of Weyerhaeuser from a neutral rating to a buy rating and set a $33.00 price target on the stock in a research report on Wednesday, June 29th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Weyerhaeuser from a hold rating to a buy rating and set a $36.00 price target on the stock in a research report on Tuesday, July 19th. Finally, Dundee Securities lowered shares of Weyerhaeuser from a buy rating to a neutral rating in a research report on Friday, August 12th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $35.38.
Weyerhaeuser (NYSE:WY) opened at 32.08 on Tuesday. The firm has a market capitalization of $24.02 billion, a price-to-earnings ratio of 41.34 and a beta of 1.44. Weyerhaeuser has a 52-week low of $22.06 and a 52-week high of $33.17. The firm has a 50-day moving average of $31.43 and a 200-day moving average of $30.95.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Weyerhaeuser had a return on equity of 8.35% and a net margin of 7.24%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $7.54 billion. During the same period last year, the company posted $0.26 earnings per share. The business’s revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that Weyerhaeuser will post $1.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, September 7th. Weyerhaeuser’s payout ratio is presently 158.98%.
In other news, VP Rhonda D. Hunter sold 3,292 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $30.00, for a total value of $98,760.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rick R. Holley sold 608,000 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $32.55, for a total transaction of $19,790,400.00. Following the completion of the transaction, the director now directly owns 696,488 shares in the company, valued at $22,670,684.40. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Evercore Wealth Management LLC raised its position in shares of Weyerhaeuser by 6.5% in the second quarter. Evercore Wealth Management LLC now owns 1,209,019 shares of the real estate investment trust’s stock valued at $35,992,000 after buying an additional 73,925 shares during the last quarter. Carnick & Kubik Group LLC bought a new position in shares of Weyerhaeuser during the second quarter valued at $1,402,000. Williams Jones & Associates LLC raised its position in shares of Weyerhaeuser by 18.1% in the second quarter. Williams Jones & Associates LLC now owns 393,469 shares of the real estate investment trust’s stock valued at $11,714,000 after buying an additional 60,210 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Weyerhaeuser during the second quarter valued at $898,000. Finally, Kentucky Retirement Systems bought a new position in shares of Weyerhaeuser during the second quarter valued at $1,891,000. 75.73% of the stock is currently owned by institutional investors.
Weyerhaeuser Company Profile
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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