Royal Bank of Canada Lowers Conifex Timber (TSE:CFF) Price Target to C$2.00

Conifex Timber (TSE:CFF) had its price target reduced by Royal Bank of Canada from C$3.00 to C$2.00 in a report issued on Tuesday, BayStreet.CA reports.

Several other analysts also recently issued reports on the stock. Raymond James reissued a buy rating and issued a $0.65 price objective on shares of DB Commodity Double Short ETN in a research note on Wednesday, May 15th. TD Securities downgraded shares of Western Forest Products from a buy rating to a hold rating and decreased their price objective for the stock from C$2.25 to C$2.00 in a research note on Wednesday, April 17th. Finally, CIBC reissued a hold rating on shares of Just Energy Group in a research note on Friday, June 7th.

Shares of TSE CFF opened at C$0.96 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.31 and a debt-to-equity ratio of 102.23. The company has a market capitalization of $46.61 million and a P/E ratio of -1.85. Conifex Timber has a 1 year low of C$0.91 and a 1 year high of C$5.90. The stock has a 50-day moving average price of C$1.12.

Conifex Timber (TSE:CFF) last announced its quarterly earnings data on Tuesday, May 14th. The company reported C($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.23) by C($0.02). The business had revenue of C$133.75 million for the quarter. As a group, research analysts predict that Conifex Timber will post 0.04 earnings per share for the current fiscal year.

Conifex Timber Company Profile

Conifex Timber Inc primarily manufactures and sells lumber products in the United States, China, Canada, and Japan. It operates through two segments, Lumber and Bioenergy. The Lumber segment is involved in timber harvesting, reforestation, and forest management activities; processing logs into lumber and wood chips; and providing value added lumber finishing services.

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