Canfor (TSE:CFP) Lowered to "Sector Perform" Rating by Royal Bank Of Canada

Key Points

• Royal Bank of Canada downgraded Canfor from "Outperform" to "Sector Perform" and set a C$15 price objective, implying roughly a 21% upside from the current share price.
• Shares fell 5.5% to C$12.37; the company reported quarterly EPS of C($3.33) with a negative net margin (-14.92%) and negative ROE (-27.04%) on C$1.28 billion revenue.
• Analyst views are mixed but mildly positive: Scotiabank and Raymond James recently raised ratings/targets (to C$16 and C$17), and MarketBeat shows a consensus of "Moderate Buy" with a C$16.20 target.

Canfor (TSE:CFP - Get Free Report) was downgraded by investment analysts at Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They currently have a C$15.00 price objective on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 21.26% from the stock's current price.

A number of other equities analysts have also recently issued reports on the company. Scotiabank raised shares of Canfor from a "strong sell" rating to a "hold" rating and raised their price objective for the stock from C$13.00 to C$16.00 in a research report on Monday, January 26th. Raymond James Financial upgraded Canfor from a "moderate buy" rating to a "strong-buy" rating and raised their target price for the company from C$15.00 to C$17.00 in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Canfor currently has a consensus rating of "Moderate Buy" and a consensus target price of C$16.20.

Canfor Trading Down 5.5%

TSE CFP traded down C$0.72 on Thursday, reaching C$12.37. The company had a trading volume of 215,015 shares, compared to its average volume of 206,459. The firm has a market cap of C$1.45 billion, a price-to-earnings ratio of -1.82 and a beta of 1.28. Canfor has a fifty-two week low of C$10.86 and a fifty-two week high of C$16.08. The business has a 50 day moving average of C$13.79 and a two-hundred day moving average of C$12.90. The company has a debt-to-equity ratio of 37.16, a current ratio of 1.45 and a quick ratio of 2.14.

Canfor (TSE:CFP - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The company reported C($3.33) earnings per share for the quarter. Canfor had a negative net margin of 14.92% and a negative return on equity of 27.04%. The company had revenue of C$1.28 billion during the quarter. Analysts forecast that Canfor will post 0.4005401 EPS for the current year.

Canfor Company Profile

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden's largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.