FY2024 Earnings Estimate for Canfor Issued By Raymond James

Canfor Co. (TSE:CFP) – Raymond James boosted their FY2024 earnings per share estimates for shares of Canfor in a note issued to investors on Monday, October 21st. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings of ($3.57) per share for the year, up from their prior estimate of ($3.64). Raymond James has a “Strong-Buy” rating and a $28.00 price target on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share. Raymond James also issued estimates for Canfor’s FY2025 earnings at ($0.59) EPS.

A number of other research firms also recently issued reports on CFP. CIBC increased their price objective on Canfor from C$17.00 to C$19.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada increased their price objective on Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. BMO Capital Markets dropped their price objective on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, July 23rd. Scotiabank dropped their target price on Canfor from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 30th. Finally, TD Securities dropped their target price on Canfor from C$20.00 to C$19.00 in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$20.67.

Canfor Stock Performance

TSE:CFP opened at C$16.60 on Thursday. The firm has a market cap of C$1.97 billion, a PE ratio of -4.93 and a beta of 2.08. Canfor has a fifty-two week low of C$13.41 and a fifty-two week high of C$19.30. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99. The business has a 50 day moving average price of C$15.76 and a 200-day moving average price of C$15.18.

Canfor (TSE:CFP) last issued its earnings results on Thursday, July 25th. The company reported C($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.17) by C($1.25). The firm had revenue of C$1.38 billion during the quarter, compared to analysts’ expectations of C$1.42 billion. Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%.

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.