Raymond James Cuts Canfor (TSE:CFP) Price Target to C$24.00

Canfor (TSE:CFP) had its target price reduced by Raymond James from C$28.00 to C$24.00 in a research report released on Tuesday morning,BayStreet.CA reports. Raymond James also issued estimates for Canfor’s FY2024 earnings at ($3.70) EPS, FY2025 earnings at ($0.58) EPS and FY2026 earnings at $1.47 EPS.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada decreased their price target on Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. TD Securities lowered their price objective on Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, CIBC reduced their target price on Canfor from C$21.00 to C$19.00 in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$20.33.

Canfor Stock Up 0.9 %

CFP opened at C$15.56 on Tuesday. The company has a market capitalization of C$1.84 billion, a PE ratio of -4.62 and a beta of 2.08. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14. Canfor has a fifty-two week low of C$13.53 and a fifty-two week high of C$18.38. The business has a 50-day moving average of C$16.07 and a 200-day moving average of C$15.77.

Canfor (TSE:CFP) last issued its quarterly earnings data on Friday, October 25th. The company reported C($1.65) earnings per share for the quarter, missing the consensus estimate of C($1.10) by C($0.55). Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. During the same quarter in the prior year, the business posted ($0.16) EPS. Equities research analysts forecast that Canfor will post 0.4005401 EPS 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.