Canfor (TSE:CFP) Share Price Passes Below 200 Day Moving Average - What's Next?

Key Points

• Canfor's stock slipped below its 200-day moving average, trading as low as C$12.06 and last at C$12.15 versus the 200-day MA of C$12.90 on volume of 156,514 shares.
• Analysts are mixed after recent rating changes—two Buys and two Holds—with a MarketBeat consensus of "Moderate Buy" and a consensus target price of C$16.25.
• Recent results show weakness: Canfor reported C($3.33) EPS for the quarter, a negative net margin (-14.92%) and ROE (-27.04%), while the company has a market cap of C$1.43 billion and a negative P/E of -1.79.

Canfor Co. (TSE:CFP - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.90 and traded as low as C$12.06. Canfor shares last traded at C$12.15, with a volume of 156,514 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada downgraded Canfor from a "moderate buy" rating to a "hold" rating and set a C$15.00 price target on the stock. in a report on Thursday, April 16th. Scotiabank raised Canfor from a "strong sell" rating to a "hold" rating and increased their target price for the company from C$13.00 to C$16.00 in a report on Monday, January 26th. Finally, Raymond James Financial downgraded Canfor from a "strong-buy" rating to an "outperform" rating and set a C$17.00 target price on the stock. in a report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$16.25.

Canfor Stock Performance

The business has a fifty day simple moving average of C$13.23 and a two-hundred day simple moving average of C$12.90. The company has a quick ratio of 2.14, a current ratio of 1.45 and a debt-to-equity ratio of 37.16. The company has a market cap of C$1.43 billion, a P/E ratio of -1.79 and a beta of 1.28.

Canfor (TSE:CFP - Get Free Report) last posted its earnings results 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 firm had revenue of C$1.28 billion during the quarter. On average, sell-side analysts anticipate that Canfor Co. will post 0.4005401 EPS for the current year.

About Canfor

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.

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