Canfor (CFP) Receives “Strong-Buy” Rating from Raymond James

Raymond James restated their strong-buy rating on shares of Canfor (TSE:CFP) in a research report sent to investors on Thursday, BayStreet.CA reports. They currently have a C$18.00 price objective on the stock. Raymond James also issued estimates for Canfor’s Q2 2019 earnings at $0.28 EPS and Q4 2019 earnings at $0.39 EPS.

Several other analysts also recently commented on the stock. CIBC reduced their target price on shares of Canfor from C$23.00 to C$18.00 in a report on Monday, January 14th. Royal Bank of Canada cut their price objective on shares of Canfor from C$29.00 to C$23.00 in a report on Tuesday, January 8th. BMO Capital Markets raised shares of Canfor from a market perform rating to an outperform rating in a report on Monday, March 11th. Finally, TD Securities cut their price objective on shares of Canfor from C$26.00 to C$22.00 and set a buy rating for the company in a report on Monday, February 25th.

Shares of CFP stock traded down C$0.33 during midday trading on Thursday, hitting C$13.03. 575,300 shares of the company were exchanged, compared to its average volume of 396,020. The company has a market capitalization of $1.63 billion and a price-to-earnings ratio of 4.69. The company has a debt-to-equity ratio of 17.45, a quick ratio of 1.02 and a current ratio of 2.63. Canfor has a 52 week low of C$12.68 and a 52 week high of C$34.04.

Canfor (TSE:CFP) last announced its earnings results on Thursday, February 21st. The company reported C($0.23) EPS for the quarter. The company had revenue of C$1.03 billion for the quarter. Sell-side analysts forecast that Canfor will post 1.95000014059121 EPS for the current year.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in Canada and internationally. It operates through two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, pulp and paper products, remanufactured lumber products, engineered wood products, and wood pellets, as well as produces green energy.

Read More: Producer Price Index (PPI)

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