Canfor (TSE:CFP) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Canfor Co. (TSE:CFP)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.77 and traded as low as C$11.93. Canfor shares last traded at C$12.21, with a volume of 150,507 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CFP shares. Royal Bank Of Canada decreased their price objective on shares of Canfor from C$16.00 to C$15.00 and set an “outperform” rating for the company in a report on Thursday, December 18th. Raymond James Financial cut their price target on Canfor from C$17.00 to C$15.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$15.75.

Canfor Stock Up 5.6%

The company has a market capitalization of C$1.50 billion, a price-to-earnings ratio of -3.24 and a beta of 2.00. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The business’s 50 day moving average is C$11.74 and its 200 day moving average is C$12.74.

Canfor (TSE:CFP) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C($1.48) earnings per share (EPS) for the quarter. The company had revenue of C$1.26 billion during the quarter. Canfor had a negative return on equity of 20.05% and a negative net margin of 13.77%. Sell-side analysts anticipate that Canfor Co. will post 0.4005401 earnings per share for the current year.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.