The Weyerhaeuser Co. (WY) Issues Earnings Results, Beats Estimates By $0.08 EPS

The Weyerhaeuser Co. (WY) Issues  Earnings Results, Beats Estimates By $0.08 EPS

Weyerhaeuser Co. (NYSE:WY) posted its quarterly earnings results on Friday. The real estate investment trust reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. The business earned $1.66 billion during the quarter, compared to the consensus estimate of $1.71 billion. Weyerhaeuser had a return on equity of 8.35% and a net margin of 7.24%. Weyerhaeuser’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share.

Shares of Weyerhaeuser (NYSE:WY) opened at 29.99 on Monday. The company has a market capitalization of $22.45 billion, a PE ratio of 38.65 and a beta of 1.39. The company has a 50-day moving average price of $31.05 and a 200 day moving average price of $31.18. Weyerhaeuser has a one year low of $22.06 and a one year high of $33.17.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Friday, October 28th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Wednesday, October 26th. Weyerhaeuser’s payout ratio is presently 169.86%.

A number of research analysts recently commented on the company. Goldman Sachs Group Inc. assumed coverage on Weyerhaeuser in a research note on Thursday, September 22nd. They issued a “buy” rating and a $37.00 price target for the company. Argus reiterated a “buy” rating and issued a $35.00 target price on shares of Weyerhaeuser in a research report on Tuesday, September 20th. Dundee Securities cut Weyerhaeuser from a “buy” rating to a “neutral” rating in a research report on Friday, August 12th. Citigroup Inc. lifted their target price on Weyerhaeuser from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Finally, DA Davidson cut Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Monday, August 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.38.

In other Weyerhaeuser news, VP Jeanne M. Hillman sold 4,492 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $32.50, for a total value of $145,990.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Denise M. Merle sold 15,049 shares of the firm’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $31.12, for a total value of $468,324.88. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC boosted its position in shares of Weyerhaeuser by 2.9% in the second quarter. First Eagle Investment Management LLC now owns 37,142,044 shares of the real estate investment trust’s stock worth $1,105,719,000 after buying an additional 1,046,922 shares in the last quarter. Capital World Investors boosted its position in shares of Weyerhaeuser by 37.0% in the second quarter. Capital World Investors now owns 22,619,766 shares of the real estate investment trust’s stock worth $673,390,000 after buying an additional 6,112,230 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Weyerhaeuser by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 7,868,617 shares of the real estate investment trust’s stock worth $234,249,000 after buying an additional 119,230 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Weyerhaeuser by 52.3% in the first quarter. Geode Capital Management LLC now owns 7,310,636 shares of the real estate investment trust’s stock worth $226,081,000 after buying an additional 2,509,165 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Weyerhaeuser by 253.5% in the second quarter. 1832 Asset Management L.P. now owns 5,435,470 shares of the real estate investment trust’s stock worth $162,871,000 after buying an additional 3,897,970 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

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