Canfor (TSE:CFP) Stock Crosses Below 200-Day Moving Average of $15.27

Canfor Co. (TSE:CFP)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.27 and traded as low as C$14.09. Canfor shares last traded at C$14.18, with a volume of 146,523 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on CFP. Royal Bank of Canada increased their price objective on shares of Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. BMO Capital Markets cut their price target on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 23rd. Scotiabank decreased their price target on Canfor from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a report on Tuesday, July 30th. CIBC increased their price objective on Canfor from C$17.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, TD Securities decreased their target price on Canfor from C$20.00 to C$19.00 in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$19.83.

Canfor Stock Performance

The firm has a fifty day simple moving average of C$14.67 and a 200-day simple moving average of C$15.27. The company has a quick ratio of 2.14, a current ratio of 1.99 and a debt-to-equity ratio of 11.97. The company has a market cap of C$1.68 billion, a PE ratio of -4.27 and a beta of 2.04.

Canfor (TSE:CFP) last released its quarterly earnings results on Thursday, July 25th. The company reported C($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.17) by C($1.25). Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%. The firm had revenue of C$1.38 billion for the quarter, compared to analysts’ expectations of C$1.42 billion. On average, research analysts forecast that Canfor Co. will post 0.4005401 EPS for the current fiscal year.

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.