Raymond James Equities Analysts Increase Earnings Estimates for Canfor Co. (TSE:CFP)

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

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

Canfor Stock Performance

CFP opened at C$14.80 on Monday. The company has a 50 day simple moving average of C$15.93 and a two-hundred day simple moving average of C$16.30. The company has a debt-to-equity ratio of 9.34, a current ratio of 2.49 and a quick ratio of 2.14. The firm has a market cap of C$1.76 billion, a P/E ratio of -5.46 and a beta of 2.16. Canfor has a 1-year low of C$13.41 and a 1-year high of C$23.99.

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

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.