FY2024 Earnings Estimate for Canfor Issued By Raymond James

Canfor Co. (TSE:CFP) – Raymond James raised their FY2024 earnings estimates for shares of Canfor in a research report issued to clients and investors on Monday, January 20th. Raymond James analyst D. Swetlishoff now forecasts that the company will earn ($3.70) per share for the year, up from their prior estimate of ($4.29). 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 ($0.58) EPS.

Canfor (TSE:CFP) last posted its quarterly earnings data on Friday, October 25th. The company reported C($1.65) earnings per share for the quarter, missing the consensus estimate of C($1.10) by C($0.55). Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%. During the same quarter last year, the firm earned ($0.16) EPS.

A number of other brokerages also recently weighed in on CFP. BMO Capital Markets downgraded Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada dropped their target price on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. CIBC reduced their price target on shares of Canfor from C$21.00 to C$19.00 in a report on Wednesday, January 15th. Finally, TD Securities decreased their price target on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$20.33.

Canfor Stock Performance

Shares of Canfor stock opened at C$15.42 on Wednesday. The company has a market cap of C$1.83 billion, a P/E ratio of -4.58 and a beta of 2.08. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97. The business has a 50-day moving average price of C$16.11 and a two-hundred day moving average price of C$15.76. Canfor has a 1-year low of C$13.53 and a 1-year high of C$18.38.

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.