Resolute Forest Products (NYSE:RFP) (TSE:RFP) announced its quarterly earnings results on Thursday. The basic materials company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05, MarketWatch Earnings reports. Resolute Forest Products had a negative net margin of 3.19% and a negative return on equity of 7.47%.
Shares of Resolute Forest Products stock traded down $0.48 during trading on Friday, hitting $3.03. The company’s stock had a trading volume of 1,045,887 shares, compared to its average volume of 537,835. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.21 and a quick ratio of 1.55. The stock has a market cap of $264.70 million, a price-to-earnings ratio of -3.03 and a beta of 2.66. The stock has a 50-day moving average price of $2.37 and a two-hundred day moving average price of $2.40. Resolute Forest Products has a 52 week low of $1.14 and a 52 week high of $6.42.
A number of equities research analysts have recently issued reports on the company. Scotiabank cut Resolute Forest Products from a “sector perform” rating to an “underperform” rating and set a $3.25 price objective for the company. in a report on Friday. They noted that the move was a valuation call. Royal Bank of Canada boosted their price objective on Resolute Forest Products from $3.00 to $4.00 and gave the stock a “sector perform” rating in a report on Friday. CIBC cut Resolute Forest Products from a “sector outperform” rating to a “neutral” rating and boosted their price objective for the stock from $2.75 to $3.75 in a report on Friday. Finally, TD Securities boosted their price objective on Resolute Forest Products from $2.75 to $4.00 and gave the stock a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $3.75.
Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates through five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers virgin and recycled bleached Kraft used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.
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