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

Canfor (TSE:CFP) was downgraded by investment analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Thursday,BayStreet.CA reports. They presently have a C$15.00 price target on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 21.26% from the company’s previous close.

Several other brokerages also recently issued reports on CFP. Scotiabank upgraded shares of Canfor from a “strong sell” rating to a “hold” rating and upped their target price for the stock from C$13.00 to C$16.00 in a research note on Monday, January 26th. Raymond James Financial upgraded shares of Canfor from a “moderate buy” rating to a “strong-buy” rating and upped their target price for the stock from C$15.00 to C$17.00 in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$16.20.

Canfor Trading Down 5.5%

Shares of TSE CFP traded down C$0.72 during midday trading on Thursday, hitting C$12.37. 215,015 shares of the company traded hands, compared to its average volume of 206,459. Canfor has a 12-month low of C$10.86 and a 12-month high of C$16.08. The company has a debt-to-equity ratio of 37.16, a quick ratio of 2.14 and a current ratio of 1.45. The stock has a 50-day moving average price of C$13.79 and a 200 day moving average price of C$12.90. The firm has a market cap of C$1.45 billion, a P/E ratio of -1.82 and a beta of 1.28.

Canfor (TSE:CFP) last announced its quarterly earnings data on Friday, March 6th. The company reported C($3.33) earnings per share for the quarter. The business had revenue of C$1.28 billion during the quarter. Canfor had a negative return on equity of 27.04% and a negative net margin of 14.92%. As a group, analysts expect that Canfor will post 0.4005401 earnings per share 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.