Canfor Co. (TSE:CFP) Receives Consensus Rating of “Buy” from Analysts

Canfor Co. (TSE:CFP) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$19.83.

Several research firms have recently issued reports on CFP. Scotiabank dropped their price objective 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 boosted their price target on Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Raymond James raised their price objective on Canfor from C$20.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. CIBC boosted their price objective on 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 cut their target price on Canfor from C$20.00 to C$19.00 in a research note on Tuesday, July 23rd.

Canfor Price Performance

TSE CFP opened at C$14.76 on Friday. The stock has a 50-day simple moving average of C$14.65 and a 200 day simple moving average of C$15.19. Canfor has a twelve month low of C$13.41 and a twelve month high of C$19.30. The stock has a market capitalization of C$1.75 billion, a PE ratio of -4.37 and a beta of 2.06. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99.

Canfor (TSE:CFP) last issued its quarterly earnings results 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). The business had revenue of C$1.38 billion for the quarter, compared to analyst estimates of C$1.42 billion. Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%. Research analysts anticipate 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.