Canfor Co. Forecasted to Post FY2024 Earnings of ($1.01) Per Share (TSE:CFP)

Canfor Co. (TSE:CFP) – Research analysts at Scotiabank issued their FY2024 earnings per share estimates for Canfor in a report released on Monday, May 6th. Scotiabank analyst anticipates that the company will post earnings of ($1.01) per share for the year. Scotiabank has a “Sector Perform” rating and a $22.00 price objective on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share. Scotiabank also issued estimates for Canfor’s FY2025 earnings at $0.79 EPS.

Canfor (TSE:CFP) last announced its quarterly earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.94) by C($0.12). The company had revenue of C$1.28 billion for the quarter. Canfor had a negative net margin of 6.01% and a negative return on equity of 7.71%.

CFP has been the subject of a number of other reports. TD Securities dropped their price objective on Canfor from C$22.00 to C$20.00 in a research note on Thursday, May 2nd. BMO Capital Markets dropped their price objective on shares of Canfor from C$24.00 to C$22.00 in a report on Wednesday, April 17th. CIBC decreased their price target on shares of Canfor from C$22.00 to C$21.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Royal Bank of Canada cut their price objective on Canfor from C$22.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Finally, Raymond James downgraded Canfor from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from C$25.00 to C$23.00 in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Canfor currently has a consensus rating of “Moderate Buy” and an average price target of C$21.17.

Canfor Stock Up 2.1 %

Canfor stock opened at C$15.41 on Wednesday. The company has a debt-to-equity ratio of 9.34, a quick ratio of 2.14 and a current ratio of 2.49. The firm has a 50 day moving average price of C$15.85 and a 200 day moving average price of C$16.30. Canfor has a fifty-two week low of C$13.41 and a fifty-two week high of C$23.99. The company has a market capitalization of C$1.83 billion, a PE ratio of -5.69 and a beta of 2.16.

About Canfor

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.