Canfor Co. Forecasted to Earn Q2 2024 Earnings of ($0.17) Per Share (TSE:CFP)

Canfor Co. (TSE:CFP) – Investment analysts at Scotiabank issued their Q2 2024 EPS estimates for Canfor in a research note issued on Monday, May 6th. Scotiabank analyst forecasts that the company will earn ($0.17) per share for the quarter. Scotiabank has a “Sector Perform” rating and a $22.00 price target on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share.

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

Canfor Stock Performance

Canfor stock opened at C$15.41 on Tuesday. Canfor has a 52-week low of C$13.41 and a 52-week high of C$23.99. 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 stock has a fifty day moving average price of C$15.85 and a two-hundred day moving average price of C$16.30. The firm has a market capitalization of C$1.83 billion, a P/E ratio of -5.69 and a beta of 2.16.

Canfor (TSE:CFP) last posted its earnings results 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 for the quarter. Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%.

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.