Q1 2023 Earnings Forecast for Canfor Co. Issued By Raymond James (TSE:CFP)

Canfor Co. (TSE:CFP – Get Rating) – Investment analysts at Raymond James dropped their Q1 2023 EPS estimates for Canfor in a research note issued to investors on Wednesday, March 1st. Raymond James analyst D. Swetlishoff now expects that the company will post earnings per share of ($0.42) for the quarter, down from their previous estimate of ($0.40). Raymond James currently has a “Strong-Buy” rating and a $34.00 target price on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.74 per share. Raymond James also issued estimates for Canfor’s Q4 2023 earnings at ($0.08) EPS and FY2023 earnings at ($0.59) EPS.

Several other research firms have also commented on CFP. CIBC lowered their price objective on shares of Canfor from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday. Scotiabank lowered their price objective on shares of Canfor from C$33.00 to C$30.00 in a research note on Monday, January 9th.

Canfor Trading Up 1.6 %

TSE CFP opened at C$23.04 on Friday. The firm has a 50 day simple moving average of C$23.19 and a 200-day simple moving average of C$22.86. The company has a debt-to-equity ratio of 7.47, a quick ratio of 2.14 and a current ratio of 3.45. Canfor has a one year low of C$18.42 and a one year high of C$30.37. The firm has a market cap of C$2.82 billion, a price-to-earnings ratio of 2.88 and a beta of 2.02.

About Canfor

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Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates through two segments, Lumber, and Pulp and Paper. The company manufactures and sells finger-jointed lumber, engineered wood products, wood chips and pellets, and logs, as well as custom specialty products, including strength-rated trusses, beams, and tongue-and-groove timber; and generates green energy.