Canfor (TSE:CFP) Given New C$20.00 Price Target at TD Securities

Canfor (TSE:CFP) had its price objective trimmed by TD Securities from C$22.00 to C$20.00 in a report issued on Thursday, BayStreet.CA reports.

Several other equities analysts have also recently weighed in on the company. Scotiabank set a C$22.00 price objective on Canfor and gave the company a sector perform rating in a report on Monday, January 22nd. BMO Capital Markets dropped their price target on Canfor from C$24.00 to C$22.00 in a research note on Wednesday, April 17th. Raymond James downgraded shares of Canfor from a strong-buy rating to an outperform rating and reduced their price objective for the stock from C$25.00 to C$23.00 in a research note on Tuesday, February 6th. CIBC dropped their target price on shares of Canfor from C$23.00 to C$22.00 in a research report on Thursday, April 11th. Finally, Royal Bank of Canada lowered their price objective on shares of Canfor from C$22.00 to C$19.00 and set an outperform rating for the company in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Canfor has a consensus rating of Moderate Buy and a consensus price target of C$21.17.

Canfor Stock Performance

Shares of TSE:CFP traded down C$0.14 during trading on Thursday, reaching C$14.80. 146,435 shares of the stock were exchanged, compared to its average volume of 189,269. Canfor has a 12 month low of C$13.41 and a 12 month high of C$23.99. The stock has a 50-day moving average price of C$15.93 and a 200-day moving average price of C$16.28. The company has a current ratio of 2.49, a quick ratio of 2.14 and a debt-to-equity ratio of 9.34. The firm has a market cap of C$1.76 billion, a PE ratio of -5.46 and a beta of 2.16.

Canfor (TSE:CFP) last released its quarterly earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share for the quarter, missing the consensus estimate 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%. Research analysts expect that Canfor will post 0.4005401 EPS for the current fiscal 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.