FY2024 EPS Estimates for Canfor Co. Cut by Raymond James (TSE:CFP)

Canfor Co. (TSE:CFP) – Equities research analysts at Raymond James reduced their FY2024 earnings per share (EPS) estimates for shares of Canfor in a research report issued on Wednesday, April 3rd. Raymond James analyst D. Swetlishoff now forecasts that the company will post earnings of ($1.66) per share for the year, down from their previous forecast of ($0.83). Raymond James currently has a “Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share.

CFP has been the subject of several other reports. Scotiabank set a C$22.00 target price on Canfor and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. TD Securities decreased their price objective on shares of Canfor from C$25.00 to C$22.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Canfor currently has a consensus rating of “Moderate Buy” and an average price target of C$23.40.

Canfor Price Performance

Shares of Canfor stock opened at C$16.01 on Monday. The firm has a market cap of C$1.90 billion, a PE ratio of -5.91 and a beta of 2.16. The business has a 50-day moving average price of C$16.37 and a 200 day moving average price of C$16.45. The company has a quick ratio of 2.14, a current ratio of 2.49 and a debt-to-equity ratio of 9.34. Canfor has a twelve month low of C$13.41 and a twelve month high of C$23.99.

Canfor (TSE:CFP) last released its quarterly earnings data on Tuesday, March 5th. The company reported C($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.94) by C($0.12). Canfor had a negative net margin of 6.01% and a negative return on equity of 7.71%. The firm had revenue of C$1.28 billion during the quarter.

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.