Royal Bank Of Canada Issues Pessimistic Forecast for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP) had its price objective cut by stock analysts at Royal Bank Of Canada from C$16.00 to C$15.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 32.74% from the company’s previous close.

Separately, Raymond James Financial cut their target price on shares of Canfor from C$17.00 to C$15.00 and set an “outperform” rating for the company in a research report on Thursday, December 4th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$15.75.

Canfor Price Performance

Shares of CFP traded up C$0.14 during mid-day trading on Thursday, reaching C$11.30. 120,948 shares of the stock traded hands, compared to its average volume of 163,003. The company has a market cap of C$1.32 billion, a price-to-earnings ratio of -2.84 and a beta of 1.95. Canfor has a 1 year low of C$10.86 and a 1 year high of C$16.22. The firm has a fifty day moving average price of C$11.94 and a 200 day moving average price of C$13.00. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94.

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

Canfor Company Profile

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.