Analysts Set Resolute Forest Products Inc. (RFP) Target Price at $5.54
Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) has earned an average recommendation of “Hold” from the six brokerages that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.54.
Separately, TD Securities restated a “reduce” rating and set a $3.75 target price (down from $5.00) on shares of Resolute Forest Products in a report on Sunday, November 6th.
Several large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Resolute Forest Products by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 179,315 shares of the company’s stock valued at $848,000 after buying an additional 33,900 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Resolute Forest Products by 60.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 300,785 shares of the company’s stock valued at $1,423,000 after buying an additional 113,100 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Resolute Forest Products during the third quarter valued at approximately $239,000. KCG Holdings Inc. purchased a new stake in shares of Resolute Forest Products during the third quarter valued at approximately $124,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Resolute Forest Products during the third quarter valued at approximately $190,000. Institutional investors and hedge funds own 92.77% of the company’s stock.
Shares of Resolute Forest Products (NYSE:RFP) opened at 4.60 on Monday. The stock’s market capitalization is $411.73 million. The company’s 50-day moving average is $4.48 and its 200-day moving average is $5.19. Resolute Forest Products has a 12 month low of $3.70 and a 12 month high of $8.41.
Resolute Forest Products (NYSE:RFP) last issued its earnings results on Thursday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm earned $888 million during the quarter, compared to analysts’ expectations of $960 million. Resolute Forest Products had a negative net margin of 7.04% and a negative return on equity of 0.98%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. Equities research analysts expect that Resolute Forest Products will post $0.14 earnings per share for the current fiscal year.
Resolute Forest Products Company Profile
Resolute Forest Products Inc offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. The Company owns or operates over 40 pulp, paper, tissue and wood products facilities in the United States, Canada and South Korea, as well as power generation assets in Canada.
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