Cascades Inc to Post FY2019 Earnings of $0.96 Per Share, Desjardins Forecasts (TSE:CAS)

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.

About Cascades

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

Earnings History and Estimates for Cascades (TSE:CAS)

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