Zacks Upgrades Resolute Forest Products to Neutral (RFP)
Resolute Forest Products (NYSE:RFP) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $17.30 price target on the stock. Zacks‘s price target would suggest a potential upside of 2.55% from the company’s current price.
Resolute Forest Products (NYSE:RFP) traded down 2.13% on Tuesday, hitting $16.51. The stock had a trading volume of 171,996 shares. Resolute Forest Products has a 52-week low of $12.36 and a 52-week high of $21.70. The stock’s 50-day moving average is $15.54 and its 200-day moving average is $17.5. The company’s market cap is $1.562 billion.
Resolute Forest Products (NYSE:RFP) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.27) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.12) by $0.15. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted $0.30 earnings per share. Resolute Forest Products’s revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that Resolute Forest Products will post $0.44 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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