Fortress Paper Ltd. (FTP) Forecasted to Post FY2016 Earnings of $0.99 Per Share
Fortress Paper Ltd. (TSE:FTP) – Analysts at Raymond James Financial upped their FY2016 earnings estimates for Fortress Paper in a research report issued on Tuesday. Raymond James Financial analyst D. Swetlishoff now anticipates that the firm will post earnings of $0.99 per share for the year, up from their prior estimate of ($0.29). Raymond James Financial currently has a “Outperform” rating and a $8.00 target price on the stock. Raymond James Financial also issued estimates for Fortress Paper’s Q4 2016 earnings at $0.02 EPS.
Separately, Scotiabank increased their target price on Fortress Paper from C$4.50 to C$6.00 and gave the company an “underperform” rating in a research note on Wednesday.
Shares of Fortress Paper (TSE:FTP) traded down 2.22% during mid-day trading on Thursday, hitting $6.60. The company’s stock had a trading volume of 1,150 shares. Fortress Paper has a 52-week low of $2.84 and a 52-week high of $7.30. The stock’s 50 day moving average price is $6.59 and its 200 day moving average price is $4.66. The company’s market cap is $97.77 million.
About Fortress Paper
Fortress Paper Ltd. is a Canada-based producer of specialty pulp, security papers and other security related products. The Company operates through two segments: the Dissolving Pulp and the Security Paper Products. The Company operates its dissolving pulp business through the Fortress Specialty Cellulose (FSC) mill located in Thurso, Quebec, Canada, which also operates in the renewable energy generation sector through its cogeneration facility.
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