Canfor (TSE:CFP) Releases Earnings Results

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

Canfor Stock Up 5.1%

TSE:CFP opened at C$14.34 on Friday. Canfor has a twelve month low of C$10.86 and a twelve month high of C$16.08. The company has a quick ratio of 2.14, a current ratio of 1.32 and a debt-to-equity ratio of 43.49. The stock’s 50 day moving average price is C$13.73 and its two-hundred day moving average price is C$13.60. The firm has a market capitalization of C$1.68 billion, a price-to-earnings ratio of -2.01 and a beta of 1.37.

Wall Street Analysts Forecast Growth

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

About Canfor

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.