Canfor (TSE:CFP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Canfor Co. (TSE:CFP) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$12.92 and traded as high as C$13.69. Canfor shares last traded at C$13.49, with a volume of 221,486 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CFP. Royal Bank Of Canada lowered shares of Canfor from a “moderate buy” rating to a “hold” rating and set a C$15.00 price target for the company. in a research note on Thursday, April 16th. Raymond James Financial lowered shares of Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 price target for the company. in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$16.25.

Canfor Stock Performance

The company’s fifty day moving average is C$12.82 and its 200 day moving average is C$12.92. The company has a market capitalization of C$1.58 billion, a P/E ratio of -1.89 and a beta of 1.41. The company has a current ratio of 1.32, a quick ratio of 2.14 and a debt-to-equity ratio of 43.49.

Canfor (TSE:CFP) last released its quarterly earnings data on Wednesday, May 6th. The company reported C($0.62) EPS for the quarter. The business had revenue of C$1.36 billion during the quarter. Canfor had a negative return on equity of 30.75% and a negative net margin of 15.87%. As a group, equities analysts anticipate that Canfor Co. will post 0.4005401 earnings per share for the current year.

Canfor Company Profile

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.