01:05 PM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our target price by $3 to $32, applying a forward P/E of 31.0x our 2024 EPS estimate, in line with WY's 10-year average multiple. We lower our 2024 EPS estimate by $0.14 to $1.02 and 2025's by $0.05 to $1.33. WY reported Q1 2024 EPS of $0.16 vs. $0.21, a penny consensus beat on revenues that dropped 4.5% Y/Y. By segment, Timberlands revenues fell 13.7% Y/Y and Wood Products dropped 1.2% Y/Y, partially offset by Real Estate, Energy, and Natural Resources (+5.9% Y/Y). Revenue headwinds were driven in part by weaker demand within the home repair/remodeling market, while harvest and log sale volumes were also down slightly. New home building activity has continued to be strong; however, year-over-year comps will be difficult through 2024. Adjusted EBITDA margins of 19.6% were down 140 bps Y/Y, but we think improvement is likely moving forward. WY maintains moderate leverage at 2.5x, has just $210M of maturities due through year-end 2025, and maintains $871M of cash on hand.