Post by
ferret_ca on Feb 19, 2021 11:39am
great quarter
nice to see the divy back, I definitelywasn't expecting it for another q or 2 but being retired it's obviously great to see.
earnings were very good and the debt reduction was more than very good, imho, lol.
I won't be selling any shares for at least a few more q's unless lumber prices crater which I don't think is of any concern for a while yet.
be careful on extrapolating the .09 / sh earnings going forward as it looks to me like a couple of cents are coming from the recovery of the export tax (adjusted ebitda was 71.1m with 31.6m coming from this recovery tax) so this won't happen every q. I could be wrong in this being part of the .09 eps .
lots of goodies this, debt down 50m to very reasonable level and no longer of any real concern, we got the divy back and if lumber remains robust chould increase a bit, anlaysts will be scrambling to ugrade projections, also this q should put us more on the radar of companies looking for aquisitions and private equity groups. We should easily get to the next resistance level in the low 1.80's, maybe a pit stop there to consolidate a bit and then onwards thru 2+ imho.
doing my happy dance this morning,lol.
cheers and gl ferret
Comment by
Catscratch on Feb 19, 2021 11:54am
I'm surprised this isn't up a lot more and with higher volume this morning. Seems like there is free money sitting on the table.... perhaps until analysts analysts revise esimates. I guess on the plus side if the stock remains depressed WEF will hopefully have the opportunity to buyback stock at a good prices.
Comment by
astutein on Feb 19, 2021 12:07pm
Ferretca Recovery of export was for 2017 and 2018. We have recovery of same amount for 2019 and 2020. So will show in future earnings. Also effective Nov1 20220the rate paid is 8.99% vs 20.23% last year.. Currentyear will have direct savings cost . All is good.
Comment by
ferret_ca on Feb 19, 2021 12:14pm
correct but the tax recovery will most likely be an anual thing and most likely not every q, another plus is last year 32% of earnings came from the usa , this years should be a fair bit higher I agree all is good cheers ferret
Comment by
Catscratch on Feb 19, 2021 12:46pm
What do you think analysts will increase targets to? My guess is we'll see increases to ~$2.25 after today's results and if lumber markets remain strong and WEF is successful at buying back some stock and increasing the dividend, further target price increases later in the year to $3.00+.