Resolute Forest Products (RFP) Announces Quarterly Earnings, Beats Expectations By $0.05 EPS
Resolute Forest Products (NYSE:RFP) issued its quarterly earnings data on Thursday. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.29 by $0.05, American Banking and Market News reports. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company posted $0.35 earnings per share. Resolute Forest Products’s revenue was up 2.0% compared to the same quarter last year.
On the ratings front, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Resolute Forest Products presently has a consensus rating of “Hold” and an average target price of $15.50.
Shares of Resolute Forest Products (NYSE:RFP) opened at 19.00 on Thursday. Resolute Forest Products has a one year low of $12.36 and a one year high of $19.72. The stock’s 50-day moving average is $17.42 and its 200-day moving average is $14.92. The company’s market cap is $1.795 billion.
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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