Royal Bank of Canada Cuts Canfor (TSE:CFP) Price Target to C$18.00

Canfor (TSE:CFP) had its target price dropped by Royal Bank of Canada from C$19.00 to C$18.00 in a research note issued to investors on Thursday, BayStreet.CA reports. Royal Bank of Canada’s target price would indicate a potential upside of 30.53% from the stock’s previous close.

Several other equities research analysts also recently weighed in on CFP. BMO Capital Markets cut their price target on Canfor from C$24.00 to C$22.00 in a report on Wednesday, April 17th. TD Securities reduced their target price on shares of Canfor from C$22.00 to C$20.00 in a report on Thursday, May 2nd. Finally, CIBC lowered their price target on shares of Canfor from C$22.00 to C$21.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$21.00.

Canfor Stock Up 1.5 %

Shares of CFP traded up C$0.20 during mid-day trading on Thursday, hitting C$13.79. 194,755 shares of the company’s stock were exchanged, compared to its average volume of 177,055. The stock’s 50-day moving average is C$14.85 and its 200-day moving average is C$15.89. The company has a debt-to-equity ratio of 9.76, a quick ratio of 2.14 and a current ratio of 2.31. Canfor has a fifty-two week low of C$13.41 and a fifty-two week high of C$23.75. The company has a market cap of C$1.64 billion, a price-to-earnings ratio of -6.63 and a beta of 2.18.

Canfor (TSE:CFP) last released its earnings results on Wednesday, May 1st. The company reported C($0.44) earnings per share (EPS) for the quarter. Canfor had a negative return on equity of 6.09% and a negative net margin of 4.58%. The business had revenue of C$1.38 billion for the quarter. On average, sell-side analysts anticipate that Canfor will post 0.4005401 earnings per share for the current fiscal year.

Canfor Company Profile

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.