Raymond James Cuts Canfor (TSE:CFP) Price Target to C$24.00

Canfor (TSE:CFP) had its price objective trimmed by Raymond James from C$28.00 to C$24.00 in a report issued on Thursday morning,BayStreet.CA reports.

Several other analysts have also recently issued reports on CFP. TD Securities cut their target price on Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. BMO Capital Markets cut Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. CIBC cut their target price on Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada cut their target price on Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$20.33.

Canfor Stock Performance

Shares of CFP opened at C$15.08 on Thursday. The company has a quick ratio of 2.14, a current ratio of 1.99 and a debt-to-equity ratio of 11.97. The business has a 50-day simple moving average of C$15.89 and a two-hundred day simple moving average of C$15.80. The stock has a market cap of C$1.79 billion, a price-to-earnings ratio of -4.47 and a beta of 2.08. Canfor has a 52 week low of C$13.53 and a 52 week high of C$18.38.

Canfor (TSE:CFP) last issued its quarterly earnings results on Friday, October 25th. The company reported C($1.65) EPS for the quarter, missing analysts’ consensus estimates of C($1.10) by C($0.55). Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%. During the same period in the previous year, the firm posted ($0.16) earnings per share. On average, analysts expect that Canfor will post 0.4005401 EPS for the current year.

Canfor Company Profile

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.