Raymond James Financial Has Lowered Expectations for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP) had its target price cut by investment analysts at Raymond James Financial from C$17.00 to C$15.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s target price indicates a potential upside of 27.12% from the company’s current price.

Separately, Royal Bank Of Canada dropped their target price on Canfor from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Canfor currently has a consensus rating of “Hold” and a consensus price target of C$16.00.

Canfor Stock Performance

TSE CFP traded up C$0.12 during trading on Thursday, hitting C$11.80. 35,998 shares of the company’s stock traded hands, compared to its average volume of 161,150. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The stock has a market capitalization of C$1.37 billion, a price-to-earnings ratio of -2.96 and a beta of 2.05. Canfor has a 12-month low of C$11.11 and a 12-month high of C$17.74. The business has a 50 day moving average of C$12.16 and a 200-day moving average of C$13.13.

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