Resolute Forest Products Inc. (RFP) Given Average Rating of “Hold” by Brokerages
Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) has been given a consensus rating of “Hold” by the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.58.
Several brokerages recently weighed in on RFP. Royal Bank Of Canada reiterated a “hold” rating and issued a $6.00 price objective on shares of Resolute Forest Products in a research report on Friday, October 20th. Scotiabank raised their price target on Resolute Forest Products from $5.25 to $7.75 and gave the stock an “underperform” rating in a research report on Friday, November 3rd. TD Securities upgraded Resolute Forest Products from a “reduce” rating to a “hold” rating and increased their price objective for the company from $5.00 to $8.00 in a research note on Friday, November 3rd. CIBC upgraded Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, November 3rd. Finally, TheStreet upgraded Resolute Forest Products from a “d+” rating to a “c-” rating in a research note on Wednesday.
In related news, VP Silvana Travaglini sold 6,355 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $8.80, for a total value of $55,924.00. Following the completion of the sale, the vice president now owns 30,342 shares in the company, valued at approximately $267,009.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Yves Laflamme sold 20,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $8.19, for a total transaction of $170,352.00. Following the completion of the sale, the senior vice president now owns 114,542 shares of the company’s stock, valued at approximately $938,098.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,455 shares of company stock valued at $356,632. 1.10% of the stock is owned by insiders.
Shares of Resolute Forest Products (NYSE RFP) traded up $0.10 during mid-day trading on Friday, reaching $9.25. The company had a trading volume of 385,700 shares, compared to its average volume of 236,988. Resolute Forest Products has a 1 year low of $4.10 and a 1 year high of $9.40. The company has a current ratio of 2.44, a quick ratio of 1.20 and a debt-to-equity ratio of 0.51.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.16. The business had revenue of $885.00 million for the quarter. Resolute Forest Products had a negative return on equity of 0.30% and a negative net margin of 4.05%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS.
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About Resolute Forest Products
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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