Resolute Forest Products Inc (RFP) is Downgraded by CIBC to Sector Underperform

Resolute Forest Products Inc (RFP) was Downgraded by CIBC to ” Sector Underperform”. Earlier the firm had a rating of “Sector Perform ” on the company shares. CIBC advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on Resolute Forest Products Inc. Resolute Forest Products Inc was Downgraded by TD Securities to ” Reduce” on Apr 1, 2016. Shares were Upgraded by RBC Capital Mkts on Feb 5, 2016 to ” Outperform” and Lowered the Price Target to $ 7 from a previous price target of $8 .

On the company’s financial health, Resolute Forest Products Inc reported $-0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Feb 4, 2016. Analyst had a consensus of $-0.11. The company had revenue of $894.00 million for the quarter.The company’s revenue was down -15.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Resolute Forest Products Inc closed down -0.29 points or -4.34% at $6.39 with 2,45,064 shares getting traded on Wednesday. Post opening the session at $6.75, the shares hit an intraday low of $6.35 and an intraday high of $6.86 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 13, 2015, Silvana Travaglini (Vice president & CAO) sold 2,479 shares at $18.73 per share price. According to the SEC, on Feb 13, 2015, Pierre Laberge (Senior Vice President) sold 800 shares at $18.39 per share price.

Resolute Forest Products Inc. is a holding company. The Company is a forest products company which offers products including newsprint specialty papers market pulp and wood products. It owns or operates approximately 40 pulp and paper mills and wood products facilities in the United States Canada and South Korea and power generation assets in Canada. The Company operates through four segments: newsprint specialty papers market pulp and wood products. It also sells green power produced from renewable sources wood chips and other wood related products to customers located in Canada and the United States. The newsprint segment produces newsprint at 10 facilities in North America and one facility in South Korea. The specialty papers segment produces specialty papers at five facilities in North America. The market pulp segment produces market pulp at seven facilities in North America. The wood products segment operates 15 sawmills in Canada.

Resolute Forest Products Inc

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