Raymond James Comments on Conifex Timber Inc.’s FY2021 Earnings (TSE:CFF)

Conifex Timber Inc. (TSE:CFF) – Stock analysts at Raymond James dropped their FY2021 earnings estimates for shares of Conifex Timber in a research note issued on Wednesday, May 12th. Raymond James analyst D. Swetlishoff now expects that the company will post earnings of $0.38 per share for the year, down from their prior forecast of $0.40. Raymond James has a “Outperform” rating and a $3.00 price objective on the stock.

A number of other brokerages also recently commented on CFF. CIBC boosted their target price on shares of Conifex Timber from C$3.00 to C$3.25 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada boosted their target price on shares of Conifex Timber from C$3.00 to C$4.00 and gave the stock an “outperform” rating in a report on Wednesday.

Shares of TSE CFF opened at C$2.43 on Friday. Conifex Timber has a 1-year low of C$0.41 and a 1-year high of C$2.85. The business has a fifty day moving average price of C$2.44 and a 200 day moving average price of C$1.78. The stock has a market capitalization of C$112.88 million and a P/E ratio of -17.61. The company has a debt-to-equity ratio of 54.46, a current ratio of 2.05 and a quick ratio of 0.90.

Conifex Timber (TSE:CFF) last issued its quarterly earnings data on Tuesday, March 2nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.06 by C($0.01). The company had revenue of C$49.80 million for the quarter.

About Conifex Timber

Conifex Timber Inc primarily manufactures and sells lumber products in the United States, China, Canada, Japan, and internationally. It is involved in the timber harvesting, reforestation, and forest management activities; manufacture of finished softwood lumber from spruce, pine, and fir logs; manufacture, sale, and distribution of dimension lumber; processing logs into lumber and wood chips, as well as by-products or residues, such as trim blocks, sawdust, shavings, and barks; and providing value added lumber finishing services.

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