Resolute Forest Products Inc. (RFP) Posts Earnings Results, Beats Expectations By $0.16 EPS
Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) released its quarterly earnings data on Thursday. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.16, Briefing.com reports. Resolute Forest Products had a negative return on equity of 0.30% and a negative net margin of 4.05%. The company had revenue of $885.00 million for the quarter. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year.
Resolute Forest Products (NYSE:RFP) traded up $2.20 during trading on Friday, reaching $8.05. The company had a trading volume of 739,456 shares, compared to its average volume of 195,592. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 2.49.
A number of analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Resolute Forest Products from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Friday. Scotiabank boosted their price objective on Resolute Forest Products from $5.25 to $7.75 and gave the company an “underperform” rating in a research note on Friday. TD Securities upgraded Resolute Forest Products from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $5.00 to $8.00 in a research note on Friday. CIBC upgraded Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a research note on Friday. Finally, BidaskClub upgraded Resolute Forest Products from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $7.58.
Resolute Forest Products Company Profile
Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.
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