Resolute Forest Products Rating Lowered to Underperform at Zacks (RFP)
Resolute Forest Products (NYSE:RFP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. They currently have a $13.00 price objective on the stock. Zacks‘ price target would indicate a potential downside of 5.11% from the company’s current price.
Separately, analysts at RBC Capital upgraded shares of Resolute Forest Products (NYSE:RFP) from an “underperform” rating to a “sector perform” rating in a research note to investors on Tuesday, July 16th. They now have a $16.00 price target on the stock, up previously from $13.00. They noted that the move was a valuation call.
Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.50.
Shares of Resolute Forest Products (NYSE:RFP) traded up 2.48% during mid-day trading on Wednesday, hitting $14.0399. 130,095 shares of the company’s stock traded hands. Resolute Forest Products has a one year low of $10.40 and a one year high of $17.54. The stock has a 50-day moving average of $13.56 and a 200-day moving average of $14.49. The company’s market cap is $1.330 billion.
Resolute Forest Products (NYSE:RFP) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts predict that Resolute Forest Products will post $0.91 earnings per share for the current fiscal year.
Resolute Forest Products Inc, AbitibiBowater Inc, is a global forest products company. The Company’s products include newsprint, commercial printing papers, market pulp and wood products.
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