Are Canadian forestry stocks a buy yet?

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Chartoftheday,Streetwise

We are looking for forestry stocks worth buying with a North American housing shortage and interest-rate cuts looming

Forest products stocks have been under pressure since May, 2021, when lumber prices peaked at US$1,711 per thousand board feet. With interest-rate cuts and a housing shortage in North America as potential catalysts, offset by continuing recession fears, are these stocks worth looking at?We used StockCalc’s screener to select the top 10 listed forest product stocks by market capitalization on the TSX.

an adjusted book value is calculated by multiplying book value per share by its 10-year average price-to-book ratio.is a fundamental valuation platform with tools to calculate and report on value per share for thousands of public companies listed on major North American stock exchanges. StockCalc also contains numerous tools to understand what the stocks you are investing in are worth.

Six of the 10 stocks pay a dividend with yields ranging between 1.2 per cent and 6.8 per cent. Not shown in this table but helpful in the analysis is that only three of these 10 companies have positive earnings and they all have positive one-year stock price returns. Also, the average price-to-book ratio for these stocks is 0.8 with nine of the 10 stocks below 1.0. This industry has not seen an average PB ratio above one for two years now.

Investing involves risk. StockCalc accepts no liability whatsoever for any loss or damage arising from the use of this analysis.

 

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