Resolute Forest Products Inc Sets New 1-Year High at $18.91 (RFP)
Resolute Forest Products (NYSE:RFP) set a new 52-week high during mid-day trading on Thursday, StockRatingsNetwork.com reports. The stock traded as high as $18.91 and last traded at $18.50, with a volume of 463,590 shares. The stock had previously closed at $18.60.
RFP has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Resolute Forest Products from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 31st. They now have a $16.50 price target on the stock. Analysts at TD Securities upgraded shares of Resolute Forest Products from a “reduce” rating to a “hold” rating in a research note to investors on Friday, November 1st. They now have a $17.00 price target on the stock, up previously from $13.00. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.50.
Resolute Forest Products has a 52-week low of $12.36 and a 52-week high of $18.82. The stock has a 50-day moving average of $16.19 and a 200-day moving average of $14.61. The company’s market cap is $1.765 billion.
Resolute Forest Products (NYSE:RFP) last announced its earnings results on Thursday, October 31st. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.08. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts predict that Resolute Forest Products will post $1.10 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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