Canfor Co. (TSE:CFP) Expected to Post Q2 2024 Earnings of ($0.17) Per Share

Canfor Co. (TSE:CFP) – Equities researchers at Scotiabank issued their Q2 2024 earnings per share (EPS) estimates for Canfor in a research report issued on Monday, May 6th. Scotiabank analyst anticipates that the company will post earnings per share of ($0.17) for the quarter. Scotiabank currently has a “Sector Perform” rating and a $22.00 target price on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share.

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

Canfor Stock Up 2.1 %

CFP stock opened at C$15.41 on Tuesday. The company has a debt-to-equity ratio of 9.34, a current ratio of 2.49 and a quick ratio of 2.14. The company’s 50 day simple moving average is C$15.85 and its 200-day simple moving average is C$16.30. Canfor has a 12 month low of C$13.41 and a 12 month high of C$23.99. The firm has a market capitalization of C$1.83 billion, a PE ratio of -5.69 and a beta of 2.16.

Canfor (TSE:CFP) last posted 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 business 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%.

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.