Raymond James Has Positive Outlook of Canfor FY2024 Earnings

Canfor Co. (TSE:CFP) – Analysts at Raymond James lifted their FY2024 earnings per share (EPS) estimates for shares of Canfor in a report issued on Monday, October 21st. Raymond James analyst D. Swetlishoff now anticipates that the company will earn ($3.57) per share for the year, up from their previous estimate of ($3.64). Raymond James currently has a “Strong-Buy” rating and a $28.00 target price 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.

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

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

Canfor Stock Up 3.3 %

Shares of CFP opened at C$17.14 on Thursday. The firm has a 50 day simple moving average of C$15.80 and a two-hundred day simple moving average of C$15.19. The company has a market cap of C$2.03 billion, a P/E ratio of -5.09 and a beta of 2.08. Canfor has a one year low of C$13.53 and a one year high of C$19.30. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14.

About Canfor

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.