Canfor (TSE:CFP) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Canfor Co. (TSE:CFP) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.91 and traded as low as C$11.15. Canfor shares last traded at C$11.23, with a volume of 44,879 shares changing hands.

Wall Street Analyst Weigh In

CFP has been the topic of several recent research reports. Royal Bank Of Canada decreased their price target on Canfor from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a report on Thursday, December 18th. Raymond James Financial cut their price objective on shares of Canfor from C$17.00 to C$15.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$15.75.

Canfor Stock Performance

The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 21.94. The business has a 50 day moving average price of C$11.80 and a 200 day moving average price of C$12.91. The stock has a market cap of C$1.31 billion, a P/E ratio of -2.82 and a beta of 1.95.

Canfor (TSE:CFP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C($1.48) earnings per share (EPS) for the quarter. Canfor had a negative net margin of 13.77% and a negative return on equity of 20.05%. The business had revenue of C$1.26 billion for the quarter. As a group, sell-side analysts expect that Canfor Co. will post 0.4005401 EPS for the current year.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.