Scotiabank Weighs in on Canfor Co.’s Q2 2024 Earnings (TSE:CFP)

Canfor Co. (TSE:CFP) – Analysts at Scotiabank issued their Q2 2024 earnings per share estimates for Canfor in a research note issued on Monday, May 6th. Scotiabank analyst forecasts that the company will post earnings of ($0.17) per share for the quarter. Scotiabank has a “Sector Perform” rating and a $22.00 price objective on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share.

Canfor (TSE:CFP) last released its quarterly earnings data on Tuesday, March 5th. The company reported C($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.94) by C($0.12). Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%. The business had revenue of C$1.28 billion for the quarter.

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

Canfor Stock Performance

TSE:CFP opened at C$14.81 on Tuesday. The firm’s fifty day simple moving average is C$15.91 and its 200 day simple moving average is C$16.30. 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 has a twelve month low of C$13.41 and a twelve month high of C$23.99. The firm has a market capitalization of C$1.76 billion, a price-to-earnings ratio of -5.46 and a beta of 2.16.

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.