47 days have passed by since the last earnings report for Weyerhaeuser Company (NYSE:WY) and the new quarterly results look set to arrive in 44 days. The shares of WY at the moment are trading at a volume of 3.09 million, which compares with its normal daily standard volume of 4035050 shares. This has led to the shares of the company advancing by 1.71%, currently exchanging hands at $27.34 a share. WY stock has been up by $7.24 (-20.94%) ever since it reached its 52-week high of $34.58 back in September 13, 2018. It has progressed above its 50-day moving average of $25.45 and is up 3.56% over the past week. The stock has added 6.5% since the last one arrived so the question here is that will the upbeat trend in that time frame continue leading up to its next earnings release, or is the WY share price due for a correction?
Weyerhaeuser Company (WY) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Friday, Oct 25, 2019, 11 analysts who are covering the company are estimating that it will record a profit of $0.12 per share, with analysts having different outlooks from $0.07 to $0.2. The current agreed outlook, when compared to the profit recorded last year, is at $0.28 a share, thus a decrease of -57.14% is expected. The profit view for a complete financial year for Weyerhaeuser Company is expected to be around $0.53 in current year, a growth of nearly -55.08% from last year which was $1.18.
Analyzing The Earnings History Of Weyerhaeuser Company (NYSE:WY)
In the past few years, the WY stock has been known to miss the Wall Street’s earnings projection. The company missed 33% of the time, according to the data pulled on their earnings, was able to meet predictions on 1 occasions and topped expectations 7 times. Looking at the past trend, the price of Weyerhaeuser Company shares had risen following the release of their earnings in 21 of the last 37 quarters.
Looking back, here is how Weyerhaeuser Company (WY) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 1 of the last four earnings reports. The shares of Weyerhaeuser Company recorded 4.55%, 4.23%, 1.94% and -8.5%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -0.16%, 0.76%, -1.26% and -5.98%. Their post-earnings price movements have resulted in an average increase of 0.56% and an average decrease of -1.66% in Weyerhaeuser Company on next day and 7th day, sequentially. WY’s one month stock performance led to its shares rising by 10.51% with a return of -19.73% witnessed over the last 52 weeks.
Weyerhaeuser Company (WY) Post Earnings Announcement Drift (PEAD)
Back on July 26, 2019, Weyerhaeuser Company (NYSE:WY) released its Q2 results, in which it recorded EPS of $0.16 that exceeded consensus estimates of $0.1. After the earnings were reported, the price of WY stock kicked off the session at $25.31 and remained in a range of $25.45 to $26.4 on the first day. The shares were priced at $26.21 at the close with a total volume of shares being 4950567.
On April 26, 2019, the Q1 earnings report was disclosed with EPS of $0.11. This was above the estimation of $0.09 per share. The stock price range of WY was between $26.68 and $27.49 on the first-day post announcement, after opening the day at $26.68. The session came to close at $27.37 and there was a total volume of 5979996 shares.
February 01, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.1, missing the projected $0.11 per share. The very next day, WY stock opened at $26.06 while staying in a range of $26.24 to $27.6. At the end, it moved to $26.75 a total volume of shares been 6851917.
In the year-ago Q3 earnings on October 26, 2018, the company saw profit per share of $0.28. That was worse than the $0.37 analysts had expected. Weyerhaeuser Company share price started at $26 on the first full trading day post-earning and then exchanged hands between $27.77 and $28 throughout the session. The closing price of $26.49 came on the back of 9087945 shares in volume.