Resolute Forest Products Inc. (RFP) Given Average Recommendation of “Hold” by Brokerages
Resolute Forest Products Inc. (NYSE:RFP) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the stock. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.96.
Several equities analysts have commented on RFP shares. TD Securities reaffirmed a “reduce” rating and issued a $5.00 price objective (up previously from $4.75) on shares of Resolute Forest Products in a research report on Wednesday, August 10th. Zacks Investment Research raised Resolute Forest Products from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a research report on Wednesday, July 13th.
Institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its position in Resolute Forest Products by 8.2% in the second quarter. California Public Employees Retirement System now owns 488,800 shares of the company’s stock worth $2,586,000 after buying an additional 37,100 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Resolute Forest Products during the first quarter worth about $870,000. Envestnet Asset Management Inc. increased its position in Resolute Forest Products by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 630,160 shares of the company’s stock worth $3,472,000 after buying an additional 65,453 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Resolute Forest Products during the second quarter worth about $1,072,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Resolute Forest Products by 68.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,599 shares of the company’s stock worth $102,000 after buying an additional 7,559 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.
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Resolute Forest Products (NYSE:RFP) traded down 0.84% during trading on Monday, hitting $4.75. The stock had a trading volume of 50,132 shares. The stock’s 50-day moving average is $5.07 and its 200-day moving average is $5.46. The stock’s market capitalization is $425.16 million. Resolute Forest Products has a 52-week low of $3.79 and a 52-week high of $9.55.
Resolute Forest Products (NYSE:RFP) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The company had revenue of $891 million for the quarter, compared to the consensus estimate of $934 million. Resolute Forest Products had a negative return on equity of 1.22% and a negative net margin of 7.57%. During the same quarter in the prior year, the company posted $0.07 EPS. On average, analysts predict that Resolute Forest Products will post $0.01 earnings per share for the current fiscal year.
About Resolute Forest Products
Resolute Forest Products Inc offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. The Company owns or operates over 40 pulp, paper, tissue and wood products facilities in the United States, Canada and South Korea, as well as power generation assets in Canada.
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