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

Canfor Co. (TSE:CFP) – Analysts at Scotiabank issued their FY2024 earnings estimates for shares of Canfor in a research note issued to investors on Monday, May 6th. Scotiabank analyst forecasts that the company will post earnings per share of ($1.01) for the year. Scotiabank has a “Sector Perform” rating and a $22.00 price target 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) last released its quarterly earnings data on Tuesday, March 5th. The company reported C($1.06) 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 during the quarter. Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%.

Other research analysts also recently issued reports about the stock. Raymond James downgraded shares of Canfor from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from C$25.00 to C$23.00 in a report on Tuesday, February 6th. TD Securities cut their price target on shares of Canfor from C$22.00 to C$20.00 in a report on Thursday, May 2nd. BMO Capital Markets cut their price target on shares of Canfor from C$24.00 to C$22.00 in a report on Wednesday, April 17th. CIBC cut their price target on shares of Canfor from C$22.00 to C$21.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, Royal Bank of Canada cut their price target on shares of Canfor from C$22.00 to C$19.00 and set an “outperform” rating for the company in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.17.

Canfor Stock Up 2.0 %

CFP opened at C$15.10 on Wednesday. The company has a 50 day moving average of C$15.88 and a 200 day moving average of C$16.31. The company has a market cap of C$1.80 billion, a PE ratio of -5.57 and a beta of 2.16. Canfor has a 12 month low of C$13.41 and a 12 month high of C$23.99. The company has a current ratio of 2.49, a quick ratio of 2.14 and a debt-to-equity ratio of 9.34.

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.