FY2024 Earnings Estimate for Canfor Issued By Raymond James

Canfor Co. (TSE:CFP) – Research analysts at Raymond James decreased their FY2024 earnings estimates for shares of Canfor in a research note issued on Sunday, October 27th. Raymond James analyst D. Swetlishoff now forecasts that the company will post earnings per share of ($4.29) for the year, down from their prior forecast of ($3.57). Raymond James has a “Strong-Buy” rating and a $28.00 price target on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.40 per share.

CFP has been the topic of several other research reports. CIBC boosted their price objective on shares of Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Tuesday. Royal Bank of Canada boosted their price objective on shares of Canfor from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets dropped their target price on shares of Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 23rd. Scotiabank dropped 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 note on Tuesday, July 30th. Finally, TD Securities dropped their target price on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canfor presently has an average rating of “Buy” and a consensus price target of C$21.33.

Canfor Price Performance

Shares of TSE CFP opened at C$16.74 on Wednesday. Canfor has a 1 year low of C$13.53 and a 1 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. The company’s 50-day moving average is C$15.93 and its 200 day moving average is C$15.21. The stock has a market capitalization of C$1.98 billion, a P/E ratio of -4.97 and a beta of 2.08.

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.