Domtar Corp (UFS) Announces Quarterly Earnings, Misses Estimates By $0.25 EPS
Domtar Corp (NYSE:UFS) released its earnings data on Thursday. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.25, American Banking and Market News reports. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis.
Domtar Corp (NYSE:UFS) traded down 9.00% during mid-day trading on Thursday, hitting $38.03. 1,789,832 shares of the company’s stock traded hands. Domtar Corp has a one year low of $32.505 and a one year high of $57.875. The stock has a 50-day moving average of $43.00 and a 200-day moving average of $48.33. The company has a market cap of $2.455 billion and a P/E ratio of 32.30. Domtar Corp also was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 2,333,060 shares, a growth of 189.2% from the June 13th total of 806,696 shares. Currently, 3.6% of the company’s shares are sold short. Based on an average daily volume of 896,352 shares, the days-to-cover ratio is currently 2.6 days.
A number of analysts have recently weighed in on UFS shares. Analysts at Dundee Securities cut their price target on shares of Domtar Corp from $66.00 to $60.00 in a research note on Monday, July 7th. They now have a “buy” rating on the stock. On a related note, analysts at Citigroup Inc. upgraded shares of Domtar Corp from a “sell” rating to a “neutral” rating in a research note on Friday, June 20th. Finally, analysts at TD Securities cut their price target on shares of Domtar Corp from C$55.00 to C$50.00 in a research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Domtar Corp has an average rating of “Buy” and an average price target of $61.36.
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and adult incontinence products.
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