Weyerhaeuser Co.WY is one of the leading U.S. forest product companies, offering logs, hardwood lumber, timber, poles and plywood, as well as minerals, oil, gas, seeds and seedlings to a diversified client base in the U.S., Canada, Japan, Europe and other regions.
However, WY's businesses are directly influenced by the U.S. housing market. Also, availability of credits for home buying as well as buyer's affordability to match pace with the rising prices remains a matter of concern. Investors are eagerly waiting for the company's latest earnings report.
WY reported better-than-expected results in three out of four trailing quarter, while recording below expected results in one. Average earnings surprise stands at a positive 2.39%.
Currently, WY has a Zacks Rank #3 (Hold), but that could definitely change after the release of its upcoming earnings report. You can see the complete list of today's Zacks #1 Rank stocks here .
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Earnings miss. Quarterly earnings came in at 14 cents per share, a penny lower than the Zacks Consensus Estimate.
Revenue: Revenues lagged. WY generated revenues of $1,596 million, below the Zacks Consensus Estimate of $1,626 million.
Key Stats to Note: WY intends to become the biggest land, timber and forest products company in the industry on the back of its latest merger with Plum Creek and $2.5 billion cash accrued from the divestiture of Cellulose Fibers business. Notably, in 2016 the company returned $2 billion cash to its shareholders via share repurchase program.
Stock Price: As of Feb 2, 2017, WY's closed the trading session at $31.44 per share.
Weyerhaeuser Company Price
Weyerhaeuser Company Price | Weyerhaeuser Company Quote
Shares price did not show any movement in the pre-market trading session.
Check back later for our full write up on this WY earnings report later!
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
