Canfor (TSE:CFP) Issues Earnings Results

Canfor (TSE:CFP) announced its quarterly earnings results on Thursday. The company reported C($3.33) earnings per share for the quarter, FiscalAI reports. Canfor had a negative net margin of 8.79% and a negative return on equity of 14.91%. The company had revenue of C$1.28 billion for the quarter.

Canfor Price Performance

Shares of TSE CFP traded down C$0.51 during mid-day trading on Friday, reaching C$13.07. 64,226 shares of the company were exchanged, compared to its average volume of 217,166. Canfor has a 52 week low of C$10.86 and a 52 week high of C$16.22. The company’s 50 day moving average price is C$13.84 and its 200 day moving average price is C$12.86. The stock has a market capitalization of C$1.52 billion, a PE ratio of -3.28 and a beta of 1.54. The company has a quick ratio of 2.14, a current ratio of 1.59 and a debt-to-equity ratio of 33.17.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Scotiabank raised shares of Canfor from a “strong sell” rating to a “hold” rating and upped their target price for the stock from C$13.00 to C$16.00 in a report on Monday, January 26th. Raymond James Financial upgraded Canfor from a “moderate buy” rating to a “strong-buy” rating and increased their price objective for the stock from C$15.00 to C$17.00 in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada dropped their price objective on Canfor from C$16.00 to C$15.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$16.20.

Canfor Company Profile

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.