Canfor (TSE:CFP) Price Target Cut to C$20.00 by Analysts at TD Securities

Canfor (TSE:CFP) had its price target cut by research analysts at TD Securities from C$22.00 to C$20.00 in a research report issued on Thursday, BayStreet.CA reports. TD Securities’ price objective suggests a potential upside of 33.07% from the company’s current price.

CFP has been the subject of a number of other reports. CIBC dropped their price objective on Canfor from C$23.00 to C$22.00 in a research note on Thursday, April 11th. BMO Capital Markets dropped their target price on Canfor from C$24.00 to C$22.00 in a research report on Wednesday, April 17th. Royal Bank of Canada reduced their price target on shares of 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. Raymond James cut shares of Canfor from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from C$25.00 to C$23.00 in a report on Tuesday, February 6th. Finally, Scotiabank set a C$22.00 target price on shares of Canfor and gave the stock a “sector perform” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$21.17.

Canfor Trading Down 0.6 %

Shares of TSE:CFP traded down C$0.09 during midday trading on Thursday, reaching C$15.03. 109,618 shares of the company’s stock were exchanged, compared to its average volume of 188,793. The stock has a market cap of C$1.79 billion, a price-to-earnings ratio of -5.53 and a beta of 2.16. Canfor has a fifty-two week low of C$13.41 and a fifty-two week high of C$23.99. The firm’s 50 day simple moving average is C$15.99 and its two-hundred day simple moving average is C$16.29. The company has a debt-to-equity ratio of 9.34, a current ratio of 2.49 and a quick ratio of 2.14.

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%. As a group, sell-side analysts forecast that Canfor will post 0.4005401 EPS for the current fiscal year.

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.