Raymond James Issues Optimistic Forecast for Canfor Earnings

Canfor Co. (TSE:CFP) – Analysts at Raymond James increased their FY2024 EPS estimates for Canfor in a research note issued to investors on Monday, January 20th. Raymond James analyst D. Swetlishoff now anticipates that the company will post earnings of ($3.70) per share for the year, up from their prior forecast of ($4.29). The consensus estimate for Canfor’s current full-year earnings is $0.40 per share. Raymond James also issued estimates for Canfor’s FY2025 earnings at ($0.58) EPS.

Canfor (TSE:CFP) last announced its earnings results on Friday, October 25th. The company reported C($1.65) EPS for the quarter, missing analysts’ consensus estimates of C($1.10) by C($0.55). Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. During the same period last year, the firm posted ($0.16) EPS.

CFP has been the subject of a number of other research reports. Royal Bank of Canada dropped their target price on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a report on Friday, December 20th. TD Securities cut their price objective on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. BMO Capital Markets cut Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. Finally, CIBC dropped their price target on Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$20.33.

Canfor Stock Up 0.5 %

TSE CFP opened at C$15.73 on Wednesday. The business has a fifty day moving average price of C$16.14 and a 200 day moving average price of C$15.76. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99. The company has a market cap of C$1.86 billion, a P/E ratio of -4.67 and a beta of 2.08. Canfor has a one year low of C$13.53 and a one year high of C$18.38.

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.