Resolute Forest Products Inc (RFP) Given Average Rating of “Hold” by Brokerages

Shares of Resolute Forest Products Inc (NYSE:RFP) (TSE:RFP) have received an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.92.

RFP has been the subject of several recent analyst reports. Scotiabank set a $8.25 target price on Resolute Forest Products and gave the stock an “underperform” rating in a research note on Friday, February 2nd. TD Securities cut their target price on Resolute Forest Products from $11.50 to $9.50 and set a “hold” rating for the company in a research note on Friday, February 2nd. Royal Bank of Canada cut their target price on Resolute Forest Products from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. CIBC cut Resolute Forest Products from an “outperform” rating to a “neutral” rating in a research note on Friday, January 12th. Finally, TheStreet upgraded Resolute Forest Products from a “d+” rating to a “c-” rating in a research note on Wednesday, November 29th.

Shares of Resolute Forest Products (NYSE:RFP) opened at $7.85 on Wednesday. Resolute Forest Products has a 1-year low of $4.10 and a 1-year high of $12.15. The stock has a market capitalization of $704.92, a P/E ratio of -8.35 and a beta of 1.47. 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 issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.47). The company had revenue of $898.00 million during the quarter. Resolute Forest Products had a negative net margin of 2.39% and a positive return on equity of 0.73%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its holdings in shares of Resolute Forest Products by 0.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,827,939 shares of the basic materials company’s stock worth $9,231,000 after buying an additional 11,868 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Resolute Forest Products by 5.6% during the second quarter. Vanguard Group Inc. now owns 5,216,531 shares of the basic materials company’s stock worth $22,953,000 after buying an additional 274,356 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Resolute Forest Products by 73.4% during the fourth quarter. Acadian Asset Management LLC now owns 578,537 shares of the basic materials company’s stock worth $6,393,000 after buying an additional 244,878 shares in the last quarter. Numeric Investors LLC increased its holdings in shares of Resolute Forest Products by 342.3% during the second quarter. Numeric Investors LLC now owns 63,695 shares of the basic materials company’s stock worth $280,000 after buying an additional 49,295 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Resolute Forest Products during the second quarter worth $384,000. Hedge funds and other institutional investors own 87.13% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Resolute Forest Products Inc (RFP) Given Average Rating of “Hold” by Brokerages” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/02/14/resolute-forest-products-inc-rfp-given-average-rating-of-hold-by-brokerages.html.

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.

Receive News & Ratings for Resolute Forest Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resolute Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply