Canfor (TSE:CFP) Price Target Lowered to C$19.00 at Royal Bank of Canada

Canfor (TSE:CFP - Free Report) had its target price cut by Royal Bank of Canada from C$22.00 to C$19.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on the company. BMO Capital Markets dropped their price target on Canfor from C$24.00 to C$22.00 in a research note on Wednesday. Raymond James downgraded shares of 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. TD Securities reduced their price target on shares of Canfor from C$25.00 to C$22.00 and set a buy rating on the stock in a research report on Thursday, March 7th. Scotiabank set a C$22.00 price objective on shares of Canfor and gave the company a sector perform rating in a research report on Monday, January 22nd. Finally, CIBC reduced their target price on Canfor from C$23.00 to C$22.00 in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of C$21.67.

Canfor Stock Performance

Shares of CFP traded up C$0.11 during mid-day trading on Friday, hitting C$14.42. 289,286 shares of the company's stock were exchanged, compared to its average volume of 187,776. The company has a quick ratio of 2.14, a current ratio of 2.49 and a debt-to-equity ratio of 9.34. Canfor has a 52 week low of C$13.41 and a 52 week high of C$23.99. The stock's 50-day simple moving average is C$16.26 and its 200-day simple moving average is C$16.35. The firm has a market cap of C$1.71 billion, a price-to-earnings ratio of -5.31 and a beta of 2.16.

Canfor (TSE:CFP - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported C($1.06) earnings per share for the quarter, missing the consensus estimate of C($0.94) by C($0.12). The company had revenue of C$1.28 billion during the quarter. Canfor had a negative net margin of 6.01% and a negative return on equity of 7.71%. On average, equities research analysts expect that Canfor will post 0.4005401 EPS for the current year.

Canfor Company Profile

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.