Resolute Forest Products (NYSE:RFP) Given Consensus Rating of “Hold” by Analysts

Resolute Forest Products (NYSE:RFP) (TSE:RFP) has been given an average recommendation of “Hold” by the six research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.50.

A number of research analysts have issued reports on the stock. CIBC set a $5.00 target price on shares of Resolute Forest Products and gave the company a “buy” rating in a research note on Friday, November 1st. TheStreet lowered shares of Resolute Forest Products from a “c” rating to a “d+” rating in a research note on Friday, November 1st. Royal Bank of Canada reduced their target price on shares of Resolute Forest Products from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. TD Securities reduced their price target on shares of Resolute Forest Products from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, Scotiabank set a $9.00 price target on shares of Resolute Forest Products and gave the stock a “hold” rating in a research note on Friday, August 30th.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Resolute Forest Products by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,827,640 shares of the basic materials company’s stock worth $41,959,000 after acquiring an additional 34,036 shares during the period. ACR Alpine Capital Research LLC lifted its stake in shares of Resolute Forest Products by 5.8% in the 2nd quarter. ACR Alpine Capital Research LLC now owns 5,526,294 shares of the basic materials company’s stock worth $39,790,000 after acquiring an additional 305,017 shares during the period. Donald Smith & CO. Inc. lifted its stake in shares of Resolute Forest Products by 8.3% in the 3rd quarter. Donald Smith & CO. Inc. now owns 5,141,385 shares of the basic materials company’s stock worth $24,165,000 after acquiring an additional 394,713 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Resolute Forest Products by 4.3% in the 2nd quarter. Acadian Asset Management LLC now owns 2,653,000 shares of the basic materials company’s stock worth $19,103,000 after acquiring an additional 109,232 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Resolute Forest Products by 1.8% in the 2nd quarter. BlackRock Inc. now owns 1,805,287 shares of the basic materials company’s stock worth $12,999,000 after acquiring an additional 31,469 shares during the period. 92.97% of the stock is owned by institutional investors.

Resolute Forest Products stock traded up $0.08 during midday trading on Friday, reaching $3.69. 315,326 shares of the stock traded hands, compared to its average volume of 369,596. The company has a current ratio of 2.49, a quick ratio of 1.20 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $4.24 and a two-hundred day moving average price of $5.47. The firm has a market cap of $433.52 million, a price-to-earnings ratio of 33.00 and a beta of 1.30. Resolute Forest Products has a fifty-two week low of $3.37 and a fifty-two week high of $11.53.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its earnings results on Thursday, October 31st. The basic materials company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.39). The firm had revenue of $705.00 million for the quarter, compared to analyst estimates of $713.00 million. Resolute Forest Products had a net margin of 1.88% and a return on equity of 0.70%. The company’s revenue for the quarter was down 27.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share.

Resolute Forest Products Company Profile

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

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