Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) had its price objective raised by Scotiabank from $5.25 to $7.75 in a research report sent to investors on Friday morning. They currently have an underperform rating on the basic materials company’s stock.

A number of other brokerages have also recently commented on RFP. Royal Bank Of Canada reaffirmed a hold rating and set a $6.00 target price on shares of Resolute Forest Products in a report on Friday, October 20th. BidaskClub raised shares of Resolute Forest Products from a hold rating to a buy rating in a research note on Wednesday, August 23rd. CIBC raised shares of Resolute Forest Products from a sector perform rating to a sector outperform rating in a research note on Friday. Finally, TD Securities raised shares of Resolute Forest Products from a reduce rating to a hold rating and increased their price objective for the stock from $5.00 to $8.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Resolute Forest Products presently has an average rating of Hold and a consensus target price of $7.58.

Resolute Forest Products (NYSE RFP) opened at $8.50 on Friday. Resolute Forest Products has a twelve month low of $3.70 and a twelve month high of $9.00. The company has a quick ratio of 1.17, a current ratio of 2.49 and a debt-to-equity ratio of 0.52.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. The company had revenue of $885.00 million for the quarter. Resolute Forest Products had a negative net margin of 4.05% and a negative return on equity of 0.30%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS.

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A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Resolute Forest Products by 5.6% during the second quarter. Vanguard Group Inc. now owns 5,216,531 shares of the basic materials company’s stock valued at $22,953,000 after purchasing an additional 274,356 shares during the last quarter. ACR Alpine Capital Research LLC lifted its position in Resolute Forest Products by 2.5% during the second quarter. ACR Alpine Capital Research LLC now owns 5,170,696 shares of the basic materials company’s stock valued at $22,751,000 after purchasing an additional 126,441 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Resolute Forest Products by 2.7% during the second quarter. Great West Life Assurance Co. Can now owns 4,092,509 shares of the basic materials company’s stock valued at $17,796,000 after purchasing an additional 106,967 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Resolute Forest Products by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,777,616 shares of the basic materials company’s stock valued at $12,221,000 after purchasing an additional 209,465 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Resolute Forest Products by 0.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,816,071 shares of the basic materials company’s stock valued at $7,991,000 after purchasing an additional 16,793 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

About Resolute Forest Products

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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