Q2 2024 Earnings Estimate for Canfor Co. Issued By Scotiabank (TSE:CFP)

Canfor Co. (TSE:CFP) – Stock analysts at Scotiabank issued their Q2 2024 earnings per share estimates for shares of 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 posted its quarterly earnings results on Tuesday, March 5th. The company reported C($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$1.28 billion during the quarter.

Several other equities research analysts have also issued reports on the company. CIBC reduced 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. TD Securities reduced their target price on shares of Canfor from C$22.00 to C$20.00 in a research note on Thursday, May 2nd. BMO Capital Markets dropped their price target 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 price objective on shares of Canfor from C$22.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Finally, Raymond James downgraded shares of Canfor from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from C$25.00 to C$23.00 in a research report on Tuesday, February 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.17.

Canfor Price Performance

Shares of TSE:CFP opened at C$15.10 on Tuesday. The business has a fifty day simple moving average of C$15.88 and a 200 day simple moving average of C$16.31. 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 1 year low of C$13.41 and a 1 year high of C$23.99. The firm has a market cap of C$1.80 billion, a price-to-earnings ratio of -5.57 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.