Research Analysts Offer Predictions for Canfor Co.'s FY2024 Earnings (TSE:CFP)

Canfor Co. (TSE:CFP - Free Report) - Stock analysts at Scotiabank issued their FY2024 earnings per share estimates for shares of Canfor in a research report issued to clients and investors on Monday, May 6th. Scotiabank analyst anticipates that the company will earn ($1.01) per share for the year. Scotiabank currently has a "Sector Perform" rating and a $22.00 target price 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 - Get Free Report) last announced its earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.94) by C($0.12). The business 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%.

Other analysts also recently issued reports about the company. CIBC lowered their price target on 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. BMO Capital Markets reduced their price objective on shares of Canfor from C$24.00 to C$22.00 in a research report on Wednesday, April 17th. Royal Bank of Canada dropped their target price on Canfor from C$22.00 to C$19.00 and set an "outperform" rating for the company in a research report on Friday, April 19th. TD Securities reduced their price target on Canfor from C$22.00 to C$20.00 in a report on Thursday, May 2nd. Finally, Raymond James cut 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$21.17.

Canfor Trading Up 2.1 %

CFP stock traded up C$0.31 during midday trading on Wednesday, reaching C$15.41. 191,851 shares of the company traded hands, compared to its average volume of 190,085. The firm has a market capitalization of C$1.83 billion, a price-to-earnings ratio of -5.69 and a beta of 2.16. 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 business has a 50 day moving average of C$15.85 and a 200-day moving average of C$16.30. Canfor has a 52-week low of C$13.41 and a 52-week high of C$23.99.

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.