Canfor Co. (TSE:CFP) Expected to Post FY2024 Earnings of ($1.66) Per Share

Canfor Co. (TSE:CFP) – Investment analysts at Raymond James decreased their FY2024 earnings per share estimates for shares of Canfor in a research note issued to investors on Wednesday, April 3rd. Raymond James analyst D. Swetlishoff now anticipates that the company will earn ($1.66) per share for the year, down from their previous estimate of ($0.83). Raymond James has a “Outperform” rating and a $23.00 price target on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share.

Canfor (TSE:CFP) last posted its earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share (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 net margin of 6.01% and a negative return on equity of 7.71%.

Several other research analysts also recently weighed in on CFP. TD Securities decreased their target price on shares of Canfor from C$25.00 to C$22.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Scotiabank set a C$22.00 price objective on shares of Canfor and gave the company a “sector perform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Canfor has an average rating of “Moderate Buy” and a consensus price target of C$23.40.

Canfor Stock Up 3.1 %

TSE CFP opened at C$16.01 on Monday. 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 fifty-two week low of C$13.41 and a fifty-two week high of C$23.99. The business has a 50 day moving average price of C$16.37 and a two-hundred day moving average price of C$16.45. The stock has a market cap of C$1.90 billion, a PE ratio of -5.91 and a beta of 2.16.

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.