Resolute Forest Products Inc. (RFP) Issues Earnings Results, Beats Estimates By $0.16 EPS
Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) released its quarterly earnings data on Thursday. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.16, Briefing.com reports. Resolute Forest Products had a negative return on equity of 0.30% and a negative net margin of 4.05%. The firm had revenue of $885.00 million for the quarter. During the same quarter in the prior year, the company posted $0.17 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis.
Shares of Resolute Forest Products (RFP) traded up $2.20 during mid-day trading on Friday, reaching $8.05. The company’s stock had a trading volume of 739,456 shares, compared to its average volume of 195,592. The company has a current ratio of 2.49, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.
A number of equities analysts recently commented on RFP shares. Royal Bank Of Canada restated a “hold” rating and issued a $5.00 price objective on shares of Resolute Forest Products in a report on Tuesday, October 10th. BidaskClub upgraded Resolute Forest Products from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. TD Securities upgraded Resolute Forest Products from a “reduce” rating to a “hold” rating and increased their price target for the company from $5.00 to $8.00 in a report on Friday. Scotiabank increased their price target on Resolute Forest Products from $5.25 to $7.75 and gave the company an “underperform” rating in a report on Friday. Finally, CIBC upgraded Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Resolute Forest Products has an average rating of “Hold” and a consensus target price of $7.58.
Resolute Forest Products Company Profile
Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.
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