Resolute Forest Products (RFP) Trading Down 12.2%

Resolute Forest Products (NYSE:RFP) (TSE:RFP)’s share price was down 12.2% on Thursday . The company traded as low as $9.06 and last traded at $9.67. Approximately 836,417 shares were traded during mid-day trading, an increase of 121% from the average daily volume of 378,118 shares. The stock had previously closed at $11.01.

A number of equities analysts have recently weighed in on RFP shares. TD Securities cut their price objective on shares of Resolute Forest Products from $14.00 to $13.50 and set a “hold” rating for the company in a research report on Friday, November 2nd. CIBC lowered shares of Resolute Forest Products from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, September 19th. Finally, Royal Bank of Canada boosted their price objective on shares of Resolute Forest Products from $13.00 to $14.00 and gave the company a “sector perform” rating in a research report on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Resolute Forest Products has a consensus rating of “Hold” and a consensus target price of $12.88.

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.59 and a current ratio of 2.56. The stock has a market cap of $994.69 million, a price-to-earnings ratio of 5.32 and a beta of 1.38.



Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings data on Thursday, November 1st. The basic materials company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.34. The business had revenue of $974.00 million during the quarter. Resolute Forest Products had a net margin of 5.70% and a return on equity of 11.49%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS.

The company also recently disclosed a dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be given a $1.50 dividend. The ex-dividend date is Wednesday, December 5th.

Several large investors have recently bought and sold shares of RFP. Acadian Asset Management LLC increased its position in Resolute Forest Products by 43.2% during the third quarter. Acadian Asset Management LLC now owns 2,462,276 shares of the basic materials company’s stock worth $31,886,000 after purchasing an additional 742,825 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Resolute Forest Products during the third quarter worth approximately $6,692,000. Renaissance Technologies LLC increased its position in Resolute Forest Products by 27.3% during the third quarter. Renaissance Technologies LLC now owns 1,603,017 shares of the basic materials company’s stock worth $20,759,000 after purchasing an additional 344,217 shares during the last quarter. LSV Asset Management acquired a new position in Resolute Forest Products during the second quarter worth approximately $3,135,000. Finally, Morgan Stanley increased its position in Resolute Forest Products by 78.8% during the third quarter. Morgan Stanley now owns 654,446 shares of the basic materials company’s stock worth $8,476,000 after purchasing an additional 288,389 shares during the last quarter. 91.95% of the stock is owned by institutional investors and hedge funds.

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Resolute Forest Products Company Profile (NYSE:RFP)

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

See Also: Depreciation

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