Canfor (TSE:CFP) Price Target Cut to C$21.00 by Analysts at CIBC

Canfor (TSE:CFP) had its price objective lowered by CIBC from C$22.00 to C$21.00 in a report published on Thursday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued research reports about the company. Scotiabank set a C$22.00 target price on Canfor and gave the stock a sector perform rating in a report on Monday, January 22nd. TD Securities decreased their price target on shares of Canfor from C$22.00 to C$20.00 in a research report on Thursday. BMO Capital Markets reduced their price objective on shares of Canfor from C$24.00 to C$22.00 in a research note on Wednesday, April 17th. Raymond James downgraded shares of Canfor from a strong-buy rating to an outperform rating and lowered their target price for the company from C$25.00 to C$23.00 in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada lowered their price objective on Canfor from C$22.00 to C$19.00 and set an outperform rating for the company in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canfor currently has an average rating of Moderate Buy and a consensus target price of C$21.17.

Canfor Trading Down 0.9 %

Shares of CFP stock opened at C$14.80 on Thursday. The stock’s 50-day moving average price is C$15.93 and its 200-day moving average price is C$16.30. Canfor has a 12-month low of C$13.41 and a 12-month high of C$23.99. The stock has a market capitalization of C$1.76 billion, a price-to-earnings ratio of -5.46 and a beta of 2.16. The company has a current ratio of 2.49, a quick ratio of 2.14 and a debt-to-equity ratio of 9.34.

Canfor (TSE:CFP) last released its earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share for the quarter, missing the consensus estimate of C($0.94) by C($0.12). The company had revenue of C$1.28 billion for the quarter. Canfor had a negative net margin of 6.01% and a negative return on equity of 7.71%. Equities research analysts predict that Canfor will post 0.4005401 EPS for the current fiscal 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.