Canfor Co. (TSE:CFP) Expected to Post FY2024 Earnings of ($1.81) Per Share

Canfor Co. (TSE:CFP) – Analysts at Raymond James raised their FY2024 EPS estimates for Canfor in a research note issued on Wednesday, May 1st. Raymond James analyst D. Swetlishoff now expects that the company will post earnings per share of ($1.81) for the year, up from their prior estimate of ($1.94). Raymond James has a “Outperform” rating and a $23.00 price objective on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share.

Canfor (TSE:CFP) last posted its quarterly earnings results 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). The firm had revenue of C$1.28 billion for the quarter. Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%.

A number of other brokerages have also recently issued reports on CFP. Scotiabank set a C$22.00 price objective on Canfor and gave the company a “sector perform” rating in a research note on Monday, January 22nd. BMO Capital Markets lowered their price target on Canfor from C$24.00 to C$22.00 in a report on Wednesday, April 17th. CIBC reduced their target price on Canfor from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Royal Bank of Canada reduced their target price on shares of Canfor from C$22.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. Finally, TD Securities dropped their price target on shares of Canfor from C$22.00 to C$20.00 in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Canfor has a consensus rating of “Moderate Buy” and an average price target of C$21.17.

Canfor Trading Up 2.0 %

Shares of CFP stock opened at C$15.10 on Monday. The company has a market capitalization of C$1.80 billion, a price-to-earnings ratio of -5.57 and a beta of 2.16. The company has a debt-to-equity ratio of 9.34, a quick ratio of 2.14 and a current ratio of 2.49. The company has a 50-day simple moving average of C$15.88 and a two-hundred day simple moving average of C$16.31. Canfor has a 52-week low of C$13.41 and a 52-week high of C$23.99.

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.