Raymond James Has Strong Estimate for Canfor FY2024 Earnings

Canfor Co. (TSE:CFP) – Raymond James boosted their FY2024 EPS estimates for shares of Canfor in a report released on Monday, October 21st. Raymond James analyst D. Swetlishoff now expects that the company will post earnings of ($3.57) per share for the year, up from their prior forecast of ($3.64). Raymond James has a “Strong-Buy” rating and a $28.00 price objective on the stock. 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 ($0.59) EPS.

CFP has been the topic of a number of other reports. TD Securities dropped their target price on shares of Canfor from C$20.00 to C$19.00 in a report on Tuesday, July 23rd. BMO Capital Markets decreased their target price on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 23rd. Royal Bank of Canada upped their target price on Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, July 29th. CIBC boosted their price objective on Canfor from C$17.00 to C$19.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Scotiabank reduced their price objective on shares of Canfor from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Canfor presently has an average rating of “Buy” and an average price target of C$20.67.

Canfor Price Performance

TSE:CFP opened at C$17.90 on Thursday. Canfor has a 52-week low of C$13.53 and a 52-week high of C$19.30. The company has a quick ratio of 2.14, a current ratio of 1.99 and a debt-to-equity ratio of 11.97. The firm has a market cap of C$2.12 billion, a P/E ratio of -5.31 and a beta of 2.08. The business’s 50-day moving average price is C$15.85 and its 200 day moving average price is C$15.20.

Canfor (TSE:CFP) last posted its quarterly earnings data on Thursday, July 25th. The company reported C($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.17) by C($1.25). Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. The company had revenue of C$1.38 billion during the quarter, compared to the consensus estimate of C$1.42 billion.

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.