Resolute Forest Products (RFP) Receives $12.88 Consensus PT from Analysts

Resolute Forest Products (NYSE:RFP) (TSE:RFP) has received a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $12.88.

Several research analysts recently commented on RFP shares. TD Securities reduced their price objective on shares of Resolute Forest Products from $14.00 to $13.50 and set a “hold” rating for the company in a research note on Friday, November 2nd. Royal Bank of Canada boosted their price objective on shares of Resolute Forest Products from $13.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Friday, November 2nd. Finally, CIBC lowered shares of Resolute Forest Products from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, September 19th.

Shares of NYSE:RFP traded up $0.03 during trading hours on Friday, hitting $9.39. The company’s stock had a trading volume of 253,562 shares, compared to its average volume of 411,420. Resolute Forest Products has a 52 week low of $7.27 and a 52 week high of $15.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.59 and a current ratio of 2.56. The firm has a market cap of $819.95 million, a P/E ratio of 4.36 and a beta of 1.18.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings results on Thursday, November 1st. The basic materials company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.69 by $0.34. The business had revenue of $974.00 million during the quarter. Resolute Forest Products had a net margin of 5.70% and a return on equity of 11.49%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS.

The business also recently announced a dividend, which was paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th were given a dividend of $1.50 per share. The ex-dividend date was Wednesday, December 5th.

In other Resolute Forest Products news, SVP John Lafave sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $9.40, for a total transaction of $117,500.00. Following the sale, the senior vice president now owns 87,556 shares of the company’s stock, valued at approximately $823,026.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Resolute Forest Products by 36.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,258,800 shares of the basic materials company’s stock valued at $13,029,000 after acquiring an additional 334,300 shares during the last quarter. Bridgeway Capital Management Inc. boosted its holdings in shares of Resolute Forest Products by 24.9% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 501,500 shares of the basic materials company’s stock valued at $6,494,000 after acquiring an additional 100,000 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of Resolute Forest Products by 32.5% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 50,600 shares of the basic materials company’s stock valued at $524,000 after acquiring an additional 12,400 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Resolute Forest Products by 34.6% in the 3rd quarter. Engineers Gate Manager LP now owns 56,436 shares of the basic materials company’s stock valued at $731,000 after acquiring an additional 14,514 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Resolute Forest Products in the 2nd quarter valued at $1,076,000. 91.48% of the stock is currently owned by institutional investors and hedge funds.

About Resolute Forest Products

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

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Analyst Recommendations for Resolute Forest Products (NYSE:RFP)

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