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Scotiabank reduced Canfor (TSE:CFP) PT to C$30.00.

Scotiabank reduced Canfor (TSE:CFP) PT to C$30.00.

According to BayStreet.CA, stock analysts at Scotiabank lowered their target price for Canfor (TSE: CFP) on Monday, bringing it down from C$33.00 to C$30.00. The note to investors was delivered after the market closed. The note was distributed to shareholders. According to the projections made by Scotiabank regarding the company’s target price, the stock’s price could rise by 36.74 percent relative to its most recent closing price.
Only recently have studies compiled by a large number of additional research analysts become available to the public. TD Securities recommended a “hold” for investors to maintain their current position about Canfor in a research note published on October 31st. The price objective for the company was lowered for Canfor from C$31.00 to C$29.00 in the note, and the firm was given the rating. CIBC decreased Canfor’s target price in a research note published on Tuesday, October 4th. The new target price is $25.00, down from the previous $30.00. In addition, the company’s rating was changed from “outperform” to “neutral.”
The TSE: CFP experienced a loss of CAD 0.27 during the lunchtime session on Monday, bringing the price down to $21.94 from its previous level. In comparison, only 41,478 shares of the company’s stock were traded, significantly lower than the typical volume of 100,814 shares traded. Over the past 52 weeks, Canfor’s highest price was $33.89, and its lowest price was also $33.89. The debt-to-equity ratio is 7.48, the current ratio is 3.45, and the quick ratio is 2.14. All of these figures are presented in the table below. The current price-to-earnings ratio for the company is 2.76, and the business’s market capitalization is estimated to be $2.69 billion. The company’s simple moving average for the past 50 days is currently sitting at C$22.61, and the simple moving average for the past 200 days is currently sitting at C$23.29.
The most recent quarterly earnings report for Canfor (TSE: CFP) was made public on Thursday, October 27th, announcing the company’s financial results. Compared to the average prediction of C$0.53, which was C$0.27, the company’s quarterly profits per share (EPS) came in at C$0.80, which was a significant increase. During the period under consideration, the company generated revenues totaling $1.67 billion in Canadian dollars. As a result, according to projections made by industry analysts, Canfor is expected to generate profits of $1.85 per share for the current fiscal year.
The Canfor Corporation is a global integrated forest products company that conducts business in a variety of countries all over the world, including the United States of America, Asia, Canada, Europe, and other regions. It participates in business activities in two distinct markets: the lumber market and the pulp and paper market. The company manufactures and distributes tongue-and-groove timber and lumber, in addition to engineered wood products, wood chips, wood pellets, logs, and individualized products that are manufactured in response to specific customer requests. In addition to this, it is a source of clean energy.


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