Canfor (TSE:CFP) Posts Quarterly Earnings Results

Canfor (TSE:CFP) posted its quarterly earnings data on Wednesday. The company reported C($0.16) earnings per share for the quarter, FiscalAI reports. The company had revenue of C$1.53 billion for the quarter. Canfor had a negative net margin of 15.87% and a negative return on equity of 30.75%.

Canfor Price Performance

Canfor stock traded down C$0.32 during mid-day trading on Wednesday, hitting C$13.64. The stock had a trading volume of 87,470 shares, compared to its average volume of 195,975. Canfor has a one year low of C$10.86 and a one year high of C$16.08. The company has a current ratio of 1.32, a quick ratio of 2.14 and a debt-to-equity ratio of 43.49. The firm has a market capitalization of C$1.60 billion, a P/E ratio of -1.91 and a beta of 1.37. The firm’s 50 day moving average is C$13.66 and its 200 day moving average is C$13.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Raymond James Financial cut shares of Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 price target on the stock. in a research note on Friday, April 24th. Royal Bank Of Canada lowered Canfor from a “moderate buy” rating to a “hold” rating and set a C$15.00 target price for the company. in a research report on Thursday, April 16th. Finally, TD raised their price target on shares of Canfor from C$16.00 to C$18.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.60.

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.