$1.73 Billion in Sales Expected for Weyerhaeuser Company (WY) This Quarter
Equities research analysts expect Weyerhaeuser Company (NYSE:WY) to report $1.73 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Weyerhaeuser’s earnings. The lowest sales estimate is $1.73 billion and the highest is $1.74 billion. Weyerhaeuser posted sales of $1.60 billion during the same quarter last year, which would indicate a positive year over year growth rate of 8.1%. The business is expected to announce its next earnings results on Friday, October 27th.
According to Zacks, analysts expect that Weyerhaeuser will report full year sales of $1.73 billion for the current year, with estimates ranging from $7.04 billion to $7.06 billion. For the next fiscal year, analysts expect that the firm will post sales of $7.12 billion per share, with estimates ranging from $7.11 billion to $7.13 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Weyerhaeuser.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Weyerhaeuser had a net margin of 12.37% and a return on equity of 8.15%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS.
WY has been the subject of several recent research reports. Zacks Investment Research downgraded Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Stephens initiated coverage on Weyerhaeuser in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $35.00 price objective for the company. Bank of America Corporation downgraded Weyerhaeuser from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $35.00 in a research note on Wednesday, July 5th. TheStreet downgraded Weyerhaeuser from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Weyerhaeuser in a research note on Monday, September 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $37.00.
In other Weyerhaeuser news, Director Rick R. Holley sold 227,341 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $35.05, for a total transaction of $7,968,302.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Barnett & Company Inc. acquired a new stake in Weyerhaeuser during the 2nd quarter valued at approximately $101,000. Dupont Capital Management Corp acquired a new stake in Weyerhaeuser during the 2nd quarter valued at approximately $109,000. Alexandria Capital LLC increased its position in Weyerhaeuser by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 3,486 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 12 shares during the period. Gemmer Asset Management LLC increased its position in Weyerhaeuser by 0.5% during the 2nd quarter. Gemmer Asset Management LLC now owns 4,146 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 20 shares during the period. Finally, First Command Bank increased its position in Weyerhaeuser by 73.1% during the 2nd quarter. First Command Bank now owns 4,178 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,765 shares during the period. 75.26% of the stock is owned by institutional investors and hedge funds.
Weyerhaeuser (WY) traded up 0.28% during midday trading on Friday, reaching $35.61. 2,956,251 shares of the company’s stock traded hands. The stock has a 50-day moving average of $34.15 and a 200 day moving average of $33.41. The company has a market cap of $26.81 billion, a P/E ratio of 28.00 and a beta of 1.39. Weyerhaeuser has a 52-week low of $28.58 and a 52-week high of $35.89.
Weyerhaeuser Company Profile
Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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