Canfor (TSE:CFP) Price Target Lowered to C$17.00 at CIBC

Canfor (TSE:CFP) had its price target cut by CIBC from C$21.00 to C$17.00 in a research report sent to investors on Thursday, BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price objective on Canfor from C$24.00 to C$22.00 in a report on Wednesday, April 17th. Royal Bank of Canada reduced their price objective on Canfor from C$19.00 to C$18.00 in a research note on Thursday, July 11th. Finally, TD Securities reduced their price objective on Canfor from C$22.00 to C$20.00 in a research note on Thursday, May 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of C$20.33.

Canfor Stock Performance

TSE CFP opened at C$14.80 on Thursday. The company has a current ratio of 2.31, a quick ratio of 2.14 and a debt-to-equity ratio of 9.76. The business’s 50 day moving average is C$14.78 and its two-hundred day moving average is C$15.72. Canfor has a 12-month low of C$13.41 and a 12-month high of C$22.63. The stock has a market capitalization of C$1.76 billion, a price-to-earnings ratio of -7.12 and a beta of 2.18.

Canfor (TSE:CFP) last released its quarterly earnings results on Wednesday, May 1st. The company reported C($0.44) earnings per share for the quarter. Canfor had a negative return on equity of 6.09% and a negative net margin of 4.58%. The firm had revenue of C$1.38 billion during the quarter. Research analysts expect that Canfor will post 0.4005401 EPS 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.