Weyerhaeuser Swings to Q4 Profit as Adjusted Net Beats View (WY)

Filed in dividend, Gold Investing, o, revenue, shares by on February 4, 2011 0 Comments

Forest products maker Weyerhaeuser Company ( WY ) 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 million. Weyerhaeuser shares rose 43 cents, or +1.8%, in premarket trading Friday. The Bottom Line We have been recommending shares of Weyerhaeuser ( WY ) 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 ( WY ) 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 .

Here is the original post:
Weyerhaeuser Swings to Q4 Profit as Adjusted Net Beats View (WY)

Tags: , , , , , , , ,

About the Author ()

Leave a Reply

Your email address will not be published. Required fields are marked *