Canfor Co. (TSE:CFP) Receives Average Recommendation of “Buy” from Analysts

Canfor Co. (TSE:CFP) has received a consensus rating of “Buy” from the six research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$19.83.

Several research firms recently issued reports on CFP. Scotiabank dropped their target price on shares of 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. Royal Bank of Canada lifted their target price on Canfor from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. BMO Capital Markets reduced their price objective on shares of 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. CIBC boosted their target price on shares of Canfor from C$17.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, TD Securities decreased their price target on shares of Canfor from C$20.00 to C$19.00 in a research note on Tuesday, July 23rd.

Canfor Stock Performance

Shares of Canfor stock opened at C$16.40 on Friday. The stock has a market cap of C$1.94 billion, a price-to-earnings ratio of -4.94 and a beta of 2.06. The company has a quick ratio of 2.14, a current ratio of 1.99 and a debt-to-equity ratio of 11.97. Canfor has a twelve month low of C$13.41 and a twelve month high of C$19.30. The company’s fifty day moving average is C$14.89 and its 200 day moving average is C$15.17.

Canfor (TSE:CFP) last posted its quarterly earnings data on Thursday, July 25th. The company reported C($1.42) EPS for the quarter, missing analysts’ consensus estimates of C($0.17) by C($1.25). Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%. The company had revenue of C$1.38 billion during the quarter, compared to analyst estimates of C$1.42 billion. Sell-side analysts forecast that Canfor will post 0.4005401 EPS for the current 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.