Q1 2023 Earnings Forecast for Canfor Co. Issued By Raymond James (TSE:CFP)

Canfor Co. (TSE:CFPGet Rating) – Raymond James decreased their Q1 2023 EPS estimates for shares of Canfor in a report issued on Wednesday, March 1st. Raymond James analyst D. Swetlishoff now anticipates that the company will earn ($0.42) per share for the quarter, down from their previous forecast of ($0.40). Raymond James currently has a “Strong-Buy” rating and a $34.00 target price on the stock. The consensus estimate for Canfor’s current full-year earnings is $0.74 per share. Raymond James also issued estimates for Canfor’s Q4 2023 earnings at ($0.08) EPS and FY2023 earnings at ($0.59) EPS.

Several other research firms also recently commented on CFP. CIBC dropped their price objective on shares of Canfor from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday. Scotiabank dropped their price objective on shares of Canfor from C$33.00 to C$30.00 in a report on Monday, January 9th.

Canfor Stock Up 1.6 %

CFP stock opened at C$23.04 on Friday. The firm’s fifty day simple moving average is C$23.19 and its 200-day simple moving average is C$22.86. The company has a market capitalization of C$2.82 billion, a P/E ratio of 2.88 and a beta of 2.02. The company has a debt-to-equity ratio of 7.47, a current ratio of 3.45 and a quick ratio of 2.14. Canfor has a 12 month low of C$18.42 and a 12 month high of C$30.37.

About Canfor

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Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates through two segments, Lumber, and Pulp and Paper. The company manufactures and sells finger-jointed lumber, engineered wood products, wood chips and pellets, and logs, as well as custom specialty products, including strength-rated trusses, beams, and tongue-and-groove timber; and generates green energy.

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