TD Securities Lowers Canfor (TSE:CFP) Price Target to C$20.00

Canfor (TSE:CFP) had its target price decreased by analysts at TD Securities from C$22.00 to C$20.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. TD Securities’ price objective points to a potential upside of 35.14% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. CIBC decreased their price target on shares of Canfor from C$23.00 to C$22.00 in a report on Thursday, April 11th. Royal Bank of Canada lowered their price objective on Canfor from C$22.00 to C$19.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Raymond James lowered shares of Canfor from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from C$25.00 to C$23.00 in a report on Tuesday, February 6th. Scotiabank set a C$22.00 price target on Canfor and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets decreased their price objective on Canfor from C$24.00 to C$22.00 in a report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Canfor has an average rating of “Moderate Buy” and an average price target of C$21.17.

Canfor Stock Performance

TSE CFP opened at C$14.80 on Thursday. The company has a quick ratio of 2.14, a current ratio of 2.49 and a debt-to-equity ratio of 9.34. The company has a market capitalization of C$1.76 billion, a P/E ratio of -5.46 and a beta of 2.16. The firm has a 50-day moving average price of C$15.93 and a two-hundred day moving average price of C$16.28. Canfor has a 12-month low of C$13.41 and a 12-month high of C$23.99.

Canfor (TSE:CFP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported C($1.06) earnings per share for the quarter, missing the consensus estimate of C($0.94) by C($0.12). The firm had revenue of C$1.28 billion for the quarter. Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%. Analysts anticipate that Canfor will post 0.4005401 earnings per share for the current year.

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.