Forest products maker Weyerhaeuser Company (
) on Friday said it reversed a year-ago loss in the fourth quarter,
as adjusted results beat analyst expectations, and the company
continued to sell off some of its timberlands.
The Federal Way, WA-based company reported fourth quarter net
income of $171 million, or 32 cents per share, compared with a net
loss of $175 million, or 83 cents per share, in the year-ago
period. Excluding one-time gains from timberland sales, adjusted
profit was 10 cents per share.
Revenue rose 14% from last year to $1.66 billion.
On average, Wall Street analysts expected a smaller profit of 5
cents per share, on lower sales of $1.55 billion.
The company also announced that it sold some 82,000 acres of
timberlands in southwestern Washington state to the Hancock Timber
Resource Group, for an asking price of approximately $200
Weyerhaeuser shares rose 43 cents, or +1.8%, in premarket
The Bottom Line
We have been recommending shares of Weyerhaeuser (
) since Jan.21, 2011, when the stock was trading at $21.60. The
company has a .85% dividend yield, based on last night's closing
stock price of $23.60.
Weyerhaeuser Company (
) is a "Recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
Created by Dividend.com