Brokerages Set Canfor Co. (TSE:CFP) Target Price at C$19.83

Shares of Canfor Co. (TSE:CFP) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$19.83.

CFP has been the topic of a number of research analyst reports. CIBC increased their price objective on shares of Canfor from C$17.00 to C$19.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Raymond James increased their price target on shares of Canfor from C$20.00 to C$23.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Scotiabank reduced their price objective on Canfor from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 30th. TD Securities decreased their price objective on Canfor from C$20.00 to C$19.00 in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets dropped their target price on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 23rd.

Canfor Stock Performance

TSE CFP opened at C$15.79 on Friday. The firm has a market cap of C$1.87 billion, a price-to-earnings ratio of -4.67 and a beta of 2.06. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97. Canfor has a 1-year low of C$13.41 and a 1-year high of C$19.30. The company has a 50 day moving average of C$14.68 and a 200-day moving average of C$15.16.

Canfor (TSE:CFP) last issued its quarterly earnings data on Thursday, July 25th. The company reported C($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.17) by C($1.25). The business had revenue of C$1.38 billion during the quarter, compared to the consensus estimate of C$1.42 billion. Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. On average, equities analysts forecast that Canfor will post 0.4005401 earnings per share for the current fiscal year.

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.