Royal Bank Of Canada restated their hold rating on shares of Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) in a report issued on Tuesday morning. They currently have a $5.00 price objective on the basic materials company’s stock.
Separately, BidaskClub upgraded Resolute Forest Products from a hold rating to a buy rating in a research report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $4.67.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). Resolute Forest Products had a negative net margin of 4.33% and a negative return on equity of 0.98%. The company had revenue of $858.00 million for the quarter. During the same quarter in the prior year, the firm posted $0.07 earnings per share.
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Institutional investors have recently added to or reduced their stakes in the company. Aegis Financial Corp raised its holdings in shares of Resolute Forest Products by 3.6% in the 1st quarter. Aegis Financial Corp now owns 1,583,164 shares of the basic materials company’s stock worth $8,628,000 after purchasing an additional 54,437 shares during the period. ACR Alpine Capital Research LLC raised its holdings in shares of Resolute Forest Products by 2.5% during the 2nd quarter. ACR Alpine Capital Research LLC now owns 5,170,696 shares of the basic materials company’s stock valued at $22,751,000 after buying an additional 126,441 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Resolute Forest Products during the 1st quarter valued at about $9,806,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Resolute Forest Products by 29.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 521,226 shares of the basic materials company’s stock valued at $2,841,000 after buying an additional 119,102 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Resolute Forest Products by 7.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,568,151 shares of the basic materials company’s stock valued at $13,996,000 after buying an additional 175,547 shares during the period. Institutional investors own 87.71% of the company’s stock.
About Resolute Forest Products
Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.
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