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

Canfor Co. (TSE:CFP) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$13.37 and traded as high as C$13.72. Canfor shares last traded at C$13.58, with a volume of 41,702 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CFP. Royal Bank Of Canada cut shares of Canfor from a “moderate buy” rating to a “hold” rating and set a C$15.00 target price for the company. in a research note on Thursday, April 16th. Raymond James Financial cut shares of Canfor from a “strong-buy” rating to an “outperform” rating and set a C$17.00 price target for the company. in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$16.25.

Canfor Trading Up 0.1%

The company has a market cap of C$1.59 billion, a price-to-earnings ratio of -1.90 and a beta of 1.37. The company has a current ratio of 1.32, a quick ratio of 2.14 and a debt-to-equity ratio of 43.49. The business’s 50 day moving average price is C$13.23 and its 200-day moving average price is C$13.37.

Canfor (TSE:CFP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C($0.62) EPS for the quarter. The company had revenue of C$1.36 billion during the quarter. Canfor had a negative net margin of 15.87% and a negative return on equity of 30.75%. On average, equities analysts anticipate that Canfor Co. will post 0.4005401 EPS for the current fiscal year.

About Canfor

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.