What is Scotiabank’s Forecast for Canfor FY2024 Earnings?

Canfor Co. (TSE:CFP) – Stock analysts at Scotiabank decreased their FY2024 earnings per share (EPS) estimates for shares of Canfor in a note issued to investors on Tuesday, October 29th. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings per share of ($3.95) for the year, down from their prior forecast of ($3.11). Scotiabank has a “Sector Perform” rating and a $19.00 price objective 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.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada increased their target price on shares of Canfor from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. BMO Capital Markets cut 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 report on Tuesday, July 23rd. TD Securities lowered their target price on Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Tuesday. Raymond James raised Canfor from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. Finally, CIBC boosted their price objective on Canfor from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$21.33.

Canfor Stock Performance

Shares of CFP opened at C$16.74 on Thursday. The stock has a market capitalization of C$1.98 billion, a PE ratio of -4.97 and a beta of 2.08. The business’s fifty day moving average price is C$15.98 and its 200 day moving average price is C$15.22. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14. Canfor has a 12-month low of C$13.53 and a 12-month high of C$19.30.

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.