FY2024 Earnings Estimate for Canfor Co. (TSE:CFP) Issued By Raymond James

Canfor Co. (TSE:CFP) – Equities research analysts at Raymond James lifted their FY2024 earnings per share estimates for shares of Canfor in a note issued to investors on Wednesday, May 1st. Raymond James analyst D. Swetlishoff now expects that the company will post earnings of ($1.81) per share for the year, up from their previous estimate of ($1.94). Raymond James currently has a “Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share.

A number of other brokerages have also issued reports on CFP. BMO Capital Markets cut their price target on shares of Canfor from C$24.00 to C$22.00 in a research note on Wednesday, April 17th. Royal Bank of Canada lowered their price objective on Canfor from C$22.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. TD Securities reduced their target price on Canfor from C$22.00 to C$20.00 in a report on Thursday, May 2nd. CIBC decreased their target price on Canfor from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Finally, Scotiabank set a C$22.00 price target on Canfor and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$21.17.

Canfor Stock Performance

Shares of CFP stock opened at C$14.81 on Monday. The business’s fifty day simple moving average is C$15.91 and its 200-day simple moving average is C$16.30. Canfor has a 12-month low of C$13.41 and a 12-month high of C$23.99. The company has a market cap of C$1.76 billion, a PE ratio of -5.46 and a beta of 2.16. The company has a current ratio of 2.49, a quick ratio of 2.14 and a debt-to-equity ratio of 9.34.

Canfor (TSE:CFP) last released its quarterly earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.94) by C($0.12). Canfor had a negative net margin of 6.01% and a negative return on equity of 7.71%. The firm had revenue of C$1.28 billion during the quarter.

About Canfor

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.