Seaport Res Ptn Analysts Cut Earnings Estimates for Weyerhaeuser (NYSE:WY)

Weyerhaeuser (NYSE:WY) – Investment analysts at Seaport Res Ptn decreased their Q1 2024 earnings per share (EPS) estimates for Weyerhaeuser in a research report issued on Monday, April 15th. Seaport Res Ptn analyst M. Weintraub now anticipates that the real estate investment trust will post earnings per share of $0.15 for the quarter, down from their prior forecast of $0.21. The consensus estimate for Weyerhaeuser’s current full-year earnings is $1.03 per share. Seaport Res Ptn also issued estimates for Weyerhaeuser’s Q2 2024 earnings at $0.35 EPS and Q3 2024 earnings at $0.33 EPS.

Several other brokerages also recently commented on WY. StockNews.com downgraded Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Monday, January 29th. BMO Capital Markets lifted their price objective on Weyerhaeuser from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Royal Bank of Canada restated an “outperform” rating and set a $39.00 price objective on shares of Weyerhaeuser in a report on Monday, January 29th. CIBC set a $37.00 price objective on Weyerhaeuser and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Finally, Truist Financial restated a “hold” rating and set a $36.00 price objective on shares of Weyerhaeuser in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.00.

Weyerhaeuser Trading Down 1.4 %

Shares of Weyerhaeuser stock traded down $0.45 during trading hours on Wednesday, reaching $31.52. The stock had a trading volume of 3,395,240 shares, compared to its average volume of 3,437,717. The firm has a 50 day simple moving average of $34.21 and a two-hundred day simple moving average of $32.66. The firm has a market capitalization of $23.00 billion, a price-to-earnings ratio of 27.80 and a beta of 1.43. The company has a current ratio of 2.94, a quick ratio of 2.22 and a debt-to-equity ratio of 0.50. Weyerhaeuser has a 1 year low of $28.12 and a 1 year high of $36.27.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Friday, January 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. Weyerhaeuser had a return on equity of 7.36% and a net margin of 10.93%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS.

Institutional Investors Weigh In On Weyerhaeuser

A number of institutional investors and hedge funds have recently modified their holdings of WY. Norges Bank purchased a new position in shares of Weyerhaeuser during the fourth quarter valued at $753,497,000. Wellington Management Group LLP grew its holdings in shares of Weyerhaeuser by 53.2% during the fourth quarter. Wellington Management Group LLP now owns 29,571,219 shares of the real estate investment trust’s stock valued at $1,028,191,000 after buying an additional 10,271,891 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Weyerhaeuser during the first quarter valued at $81,507,000. Legal & General Group Plc grew its holdings in shares of Weyerhaeuser by 20.0% during the fourth quarter. Legal & General Group Plc now owns 10,632,794 shares of the real estate investment trust’s stock valued at $369,702,000 after buying an additional 1,768,676 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of Weyerhaeuser by 376.3% during the third quarter. Jupiter Asset Management Ltd. now owns 2,068,432 shares of the real estate investment trust’s stock valued at $63,418,000 after buying an additional 1,634,125 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Weyerhaeuser

In other news, CFO David M. Wold sold 924 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the sale, the chief financial officer now owns 60,655 shares of the company’s stock, valued at approximately $1,991,910.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Nicole Weyerhaeuser Piasecki sold 33,426 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $33.64, for a total value of $1,124,450.64. Following the sale, the director now owns 5,807 shares of the company’s stock, valued at approximately $195,347.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Wold sold 924 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the sale, the chief financial officer now directly owns 60,655 shares in the company, valued at $1,991,910.20. The disclosure for this sale can be found here. Insiders have sold 42,699 shares of company stock valued at $1,455,609 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

Weyerhaeuser Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 annualized dividend and a yield of 2.54%. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.19. Weyerhaeuser’s payout ratio is presently 69.57%.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.