What is Scotiabank’s Estimate for Canfor FY2024 Earnings?

Canfor Co. (TSE:CFP) – Analysts at Scotiabank dropped their FY2024 earnings per share estimates for Canfor in a report issued on Tuesday, October 29th. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings of ($3.95) per share for the year, down from their previous estimate of ($3.11). Scotiabank has a “Sector Perform” rating and a $19.00 price target on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share. Scotiabank also issued estimates for Canfor’s FY2025 earnings at $0.03 EPS and FY2026 earnings at $1.17 EPS.

A number of other equities analysts have also recently issued reports on CFP. BMO Capital Markets cut their target price on shares of Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 23rd. Raymond James upgraded Canfor from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada increased 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 target on Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, TD Securities decreased their price objective on Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$21.33.

Canfor Trading Down 0.8 %

TSE:CFP opened at C$16.61 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 stock has a fifty day simple moving average of C$16.01 and a 200-day simple moving average of C$15.23. The company has a market capitalization of C$1.97 billion, a PE ratio of -4.93 and a beta of 2.08.

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.