Scotiabank Weighs in on Canfor’s FY2024 Earnings (TSE:CFP)

Canfor Co. (TSE:CFP) – Equities researchers at Scotiabank reduced their FY2024 EPS estimates for shares of Canfor in a research note issued on Tuesday, October 29th. Scotiabank analyst B. Isaacson now forecasts that the company will earn ($3.95) per share for the year, down from their prior forecast 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 research analysts also recently weighed in on CFP. Raymond James upgraded Canfor from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. TD Securities dropped 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. CIBC raised their target price on Canfor from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research note on Tuesday. BMO Capital Markets dropped their price target on shares of Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$21.33.

Canfor Trading Up 0.8 %

Shares of TSE:CFP opened at C$16.74 on Thursday. Canfor has a twelve month low of C$13.53 and a twelve month high of C$19.30. 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 firm has a market cap of C$1.98 billion, a P/E ratio of -4.97 and a beta of 2.08. The company has a 50 day moving average of C$15.98 and a 200-day moving average of C$15.22.

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.