Brokers Issue Forecasts for Canfor Co.’s FY2024 Earnings (TSE:CFP)

Canfor Co. (TSE:CFP) – Research analysts at Scotiabank issued their FY2024 EPS estimates for shares of Canfor in a research report issued to clients and investors on Monday, May 6th. Scotiabank analyst forecasts that the company will post earnings per share of ($1.01) for the year. Scotiabank has a “Sector Perform” rating and a $22.00 price target on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share. Scotiabank also issued estimates for Canfor’s FY2025 earnings at $0.79 EPS.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Canfor from C$22.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. CIBC reduced their price target on shares of Canfor from C$22.00 to C$21.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. TD Securities reduced their price target on shares of Canfor from C$22.00 to C$20.00 in a research report on Thursday, May 2nd. Raymond James lowered shares of Canfor from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from C$25.00 to C$23.00 in a research report on Tuesday, February 6th. Finally, BMO Capital Markets reduced their price target on shares of Canfor from C$24.00 to C$22.00 in a research report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$21.17.

Canfor Stock Up 2.0 %

CFP stock opened at C$15.10 on Wednesday. The firm has a 50 day moving average of C$15.88 and a 200 day moving average of C$16.31. The stock has a market capitalization of C$1.80 billion, a PE ratio of -5.57 and a beta of 2.16. The company has a quick ratio of 2.14, a current ratio of 2.49 and a debt-to-equity ratio of 9.34. Canfor has a 52 week low of C$13.41 and a 52 week high of C$23.99.

Canfor (TSE:CFP) last released its earnings results on Tuesday, March 5th. The company reported C($1.06) EPS for the quarter, missing analysts’ consensus estimates of C($0.94) by C($0.12). The company had revenue of C$1.28 billion during the quarter. Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%.

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.