Canfor Co. (TSE:CFP) Expected to Earn FY2024 Earnings of ($1.01) Per Share

Canfor Co. (TSE:CFP) – Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Canfor in a research report issued to clients and investors on Monday, May 6th. Scotiabank analyst anticipates that the company will earn ($1.01) per share for the year. Scotiabank has a “Sector Perform” rating and a $22.00 price objective on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share. Scotiabank also issued estimates for Canfor’s FY2025 earnings at $0.79 EPS.

A number of other analysts have also recently issued reports on CFP. TD Securities cut their price objective on Canfor from C$22.00 to C$20.00 in a research report on Thursday, May 2nd. Raymond James cut shares of Canfor from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from C$25.00 to C$23.00 in a research report on Tuesday, February 6th. CIBC dropped their price objective on shares of Canfor from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Royal Bank of Canada decreased their price target on shares of Canfor from C$22.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Finally, BMO Capital Markets cut their price objective on shares of Canfor from C$24.00 to C$22.00 in a research report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Canfor currently has a consensus rating of “Moderate Buy” and an average target price of C$21.17.

Canfor Stock Up 2.1 %

Canfor stock opened at C$15.41 on Wednesday. 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 company’s 50-day moving average is C$15.85 and its 200-day moving average is C$16.30. The firm has a market capitalization of C$1.83 billion, a PE ratio of -5.69 and a beta of 2.16. Canfor has a fifty-two week low of C$13.41 and a fifty-two week high of C$23.99.

Canfor (TSE:CFP) last released its quarterly earnings data on Tuesday, March 5th. The company reported C($1.06) EPS for the quarter, missing the consensus estimate of C($0.94) by C($0.12). The company had revenue of C$1.28 billion during 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.