Resolute Forest Products Sees Unusually Large Options Volume (RFP)
Resolute Forest Products (NYSE:RFP) (TSE:RFP) saw unusually large options trading activity on Thursday. Traders acquired 799 call options on the company. This represents an increase of approximately 995% compared to the average volume of 73 call options.
A number of equities research analysts recently weighed in on the stock. CIBC lowered shares of Resolute Forest Products from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, September 19th. TD Securities lowered their target price on shares of Resolute Forest Products from $14.00 to $13.50 and set a “hold” rating on the stock in a report on Friday, November 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Resolute Forest Products from $13.00 to $14.00 and gave the stock a “sector perform” rating in a research report on Friday, November 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Resolute Forest Products currently has an average rating of “Hold” and an average target price of $12.88.
In related news, SVP John Lafave sold 12,500 shares of the company’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $9.40, for a total value of $117,500.00. Following the sale, the senior vice president now owns 87,556 shares in the company, valued at approximately $823,026.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Shares of RFP stock opened at $9.39 on Friday. Resolute Forest Products has a 52-week low of $7.27 and a 52-week high of $15.75. The company has a quick ratio of 1.59, a current ratio of 2.56 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $819.95 million, a price-to-earnings ratio of 4.36 and a beta of 1.18.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last issued its quarterly earnings data on Thursday, November 1st. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.34. Resolute Forest Products had a net margin of 5.70% and a return on equity of 11.49%. The business had revenue of $974.00 million during the quarter. During the same period in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis.
The company also recently disclosed a dividend, which was paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th were given a $1.50 dividend. The ex-dividend date of this dividend was Wednesday, December 5th.
About Resolute Forest Products
Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.
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