Canfor (TSE:CFP) PT Lowered to C$21.00 at CIBC

Canfor (TSE:CFP) had its price target lowered by CIBC from C$22.00 to C$21.00 in a research report released on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

CFP has been the subject of several other research reports. BMO Capital Markets lowered their price objective on shares of Canfor from C$24.00 to C$22.00 in a research report on Wednesday, April 17th. Scotiabank set a C$22.00 price target on shares of Canfor and gave the company a sector perform rating in a report on Monday, January 22nd. Raymond James lowered shares of Canfor from a strong-buy rating to an outperform rating and cut their price objective for the stock from C$25.00 to C$23.00 in a report on Tuesday, February 6th. Royal Bank of Canada lowered their target price on Canfor from C$22.00 to C$19.00 and set an outperform rating for the company in a research note on Friday, April 19th. Finally, TD Securities cut their price target on Canfor from C$22.00 to C$20.00 in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of C$21.17.

Canfor Stock Performance

TSE:CFP opened at C$14.80 on Thursday. Canfor has a twelve month low of C$13.41 and a twelve month high of C$23.99. The firm has a market capitalization of C$1.76 billion, a price-to-earnings ratio of -5.46 and a beta of 2.16. The company has a current ratio of 2.49, a quick ratio of 2.14 and a debt-to-equity ratio of 9.34. The firm’s fifty day simple moving average is C$15.93 and its 200 day simple moving average is C$16.29.

Canfor (TSE:CFP) last issued its quarterly earnings data on Tuesday, March 5th. The company reported C($1.06) EPS for the quarter, missing analysts’ consensus estimates of C($0.94) by C($0.12). Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%. The company had revenue of C$1.28 billion for the quarter. As a group, equities research analysts expect that Canfor will post 0.4005401 earnings per share for the current fiscal year.

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.