Canfor Pulp Products Inc (TSE:CFX) shares reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as C$7.36 and last traded at C$8.41, with a volume of 106421 shares traded. The stock had previously closed at C$9.42.
The company reported C($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.37) by C($0.13). The firm had revenue of C$216.90 million during the quarter.
A number of equities research analysts have recently weighed in on CFX shares. CIBC cut their price objective on Canfor Pulp Products from C$13.00 to C$11.00 in a research report on Friday, October 11th. TD Securities upgraded Canfor Pulp Products from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$11.00 to C$13.00 in a research report on Tuesday, August 13th. Raymond James cut their price objective on Canfor Pulp Products from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Royal Bank of Canada cut their price objective on Canfor Pulp Products from C$13.00 to C$12.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th.
About Canfor Pulp Products (TSE:CFX)
Canfor Pulp Products Inc, together with its subsidiaries, produces and supplies pulp and paper products in North America, Europe, Asia, and internationally. The company operates through two segments, Pulp and Paper. It offers solid wood; bleached and unbleached softwood pulp; and bleached and unbleached kraft, and coloured kraft papers.
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