Cascades Inc (TSE:CAS) – Stock analysts at Desjardins raised their FY2019 earnings per share (EPS) estimates for Cascades in a research note issued on Monday, November 11th. Desjardins analyst K. Howlett now anticipates that the company will earn $0.96 per share for the year, up from their previous forecast of $0.83. Desjardins has a “Hold” rating on the stock. Desjardins also issued estimates for Cascades’ Q4 2019 earnings at $0.24 EPS.
Several other research firms have also recently weighed in on CAS. TD Securities lifted their price target on shares of Cascades from C$13.00 to C$13.50 and gave the company a “hold” rating in a report on Monday. Raymond James lifted their price target on shares of Cascades from C$14.00 to C$15.00 in a report on Monday, August 12th. CIBC raised their price objective on Cascades from C$13.00 to C$14.00 in a research report on Tuesday. National Bank Financial raised their price objective on Cascades from C$14.50 to C$15.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price objective on Cascades from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Cascades has an average rating of “Hold” and a consensus price target of C$14.42.
TSE:CAS opened at C$12.92 on Tuesday. The stock has a market cap of $1.22 billion and a P/E ratio of 51.89. The firm’s fifty day simple moving average is C$12.08 and its 200 day simple moving average is C$11.05. Cascades has a twelve month low of C$7.55 and a twelve month high of C$13.44. The company has a quick ratio of 0.81, a current ratio of 1.43 and a debt-to-equity ratio of 115.99.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, November 20th. Cascades’s dividend payout ratio is currently 64.26%.
In other news, Director Mario Plourde sold 14,900 shares of Cascades stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of C$11.77, for a total value of C$175,373.00. Following the completion of the transaction, the director now owns 348,309 shares of the company’s stock, valued at approximately C$4,099,596.93. Also, Director Alain Lemaire sold 33,200 shares of Cascades stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of C$11.21, for a total value of C$372,172.00. Following the completion of the transaction, the director now directly owns 470,303 shares of the company’s stock, valued at approximately C$5,272,096.63. Insiders have sold 231,327 shares of company stock valued at $2,633,474 in the last three months.
Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.
Further Reading: Equity Income
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