Canfor (TSE:CFP) Price Target Cut to C$24.00 by Analysts at Raymond James

Canfor (TSE:CFP) had its target price decreased by investment analysts at Raymond James from C$28.00 to C$24.00 in a research note issued on Tuesday,BayStreet.CA reports. Raymond James’ price target suggests a potential upside of 55.64% from the stock’s previous close. Raymond James also issued estimates for Canfor’s FY2024 earnings at ($3.70) EPS, FY2025 earnings at ($0.58) EPS and FY2026 earnings at $1.47 EPS.

Other equities research analysts have also recently issued research reports about the stock. TD Securities decreased their target price on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. CIBC cut their price target on shares of Canfor from C$21.00 to C$19.00 in a research note on Wednesday, January 15th. Royal Bank of Canada cut their price target on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, BMO Capital Markets lowered shares of Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$20.33.

Canfor Price Performance

Canfor stock opened at C$15.42 on Tuesday. The firm has a 50-day moving average of C$16.11 and a two-hundred day moving average of C$15.76. Canfor has a 1 year low of C$13.53 and a 1 year high of C$18.38. The stock has a market cap of C$1.83 billion, a price-to-earnings ratio of -4.58 and a beta of 2.08. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14.

Canfor (TSE:CFP) last announced its quarterly earnings results on Friday, October 25th. The company reported C($1.65) earnings per share for the quarter, missing the consensus estimate of C($1.10) by C($0.55). Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. On average, research analysts forecast that Canfor will post 0.4005401 earnings per share for the current year.

Canfor Company Profile

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.