Resolute Forest Products Inc (RFP) Bonds Trading 1.3% Higher

An issue of Resolute Forest Products Inc (NYSE:RFP) (TSE:RFP) bonds rose 1.3% against their face value during trading on Thursday. The debt issue has a 5.875% coupon and will mature on May 15, 2023. The debt is now trading at $95.00 and was trading at $91.63 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

A number of research firms recently issued reports on RFP. TD Securities restated a “reduce” rating and set a $4.00 price target on shares of Resolute Forest Products in a research note on Friday, May 5th. Royal Bank of Canada restated a “hold” rating and set a $5.00 price target on shares of Resolute Forest Products in a research note on Tuesday, April 18th.

Resolute Forest Products (NYSE:RFP) last posted its earnings results on Thursday, May 4th. The basic materials company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.46. The company had revenue of $872 million for the quarter. Resolute Forest Products had a negative net margin of 2.28% and a positive return on equity of 0.21%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) earnings per share.

Several institutional investors have recently bought and sold shares of RFP. Credit Suisse AG raised its position in Resolute Forest Products by 7.0% in the first quarter. Credit Suisse AG now owns 44,563 shares of the basic materials company’s stock valued at $242,000 after buying an additional 2,908 shares during the period. Tudor Investment Corp ET AL raised its position in Resolute Forest Products by 14.9% in the first quarter. Tudor Investment Corp ET AL now owns 22,638 shares of the basic materials company’s stock valued at $123,000 after buying an additional 2,935 shares during the period. Jane Street Group LLC raised its position in Resolute Forest Products by 46.9% in the first quarter. Jane Street Group LLC now owns 18,400 shares of the basic materials company’s stock valued at $100,000 after buying an additional 5,872 shares during the period. Aegis Financial Corp raised its position in Resolute Forest Products by 3.6% in the first quarter. Aegis Financial Corp now owns 1,583,164 shares of the basic materials company’s stock valued at $8,628,000 after buying an additional 54,437 shares during the period. Finally, PEAK6 Investments L.P. raised its position in Resolute Forest Products by 55.8% in the first quarter. PEAK6 Investments L.P. now owns 238,795 shares of the basic materials company’s stock valued at $1,301,000 after buying an additional 85,557 shares during the period. 88.65% of the stock is owned by institutional investors.

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Resolute Forest Products Company Profile

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.

12 Month Chart for NYSE:RFP

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