Brokers Set Expectations for Cascades Inc’s Q3 2016 Earnings (CAS)
Cascades Inc (TSE:CAS) – Stock analysts at Desjardins cut their Q3 2016 EPS estimates for Cascades in a research note issued to investors on Tuesday. Desjardins analyst K. Howlett now forecasts that the brokerage will earn $0.34 per share for the quarter, down from their previous forecast of $0.41. Desjardins has a “Buy” rating and a $15.00 price target on the stock. Desjardins also issued estimates for Cascades’ FY2016 earnings at $1.33 EPS.
Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada raised their price objective on shares of Cascades from C$12.00 to C$14.00 in a report on Thursday, October 6th. RBC Capital Markets raised their price objective on shares of Cascades from C$11.00 to C$15.00 in a report on Friday, September 23rd. Dundee Securities raised their price objective on shares of Cascades from C$13.00 to C$15.00 in a report on Monday, September 19th. TD Securities raised their price objective on shares of Cascades from C$12.50 to C$13.50 and gave the company a “buy” rating in a report on Tuesday, September 6th. Finally, Scotiabank restated an “outperform” rating and issued a C$14.75 price objective on shares of Cascades in a report on Tuesday, October 25th. Six research analysts have rated the stock with a buy rating, Cascades presently has a consensus rating of “Buy” and a consensus price target of C$14.03.
Cascades (TSE:CAS) opened at 11.50 on Friday. Cascades has a 12 month low of $7.72 and a 12 month high of $13.65. The firm has a 50 day moving average of $12.65 and a 200-day moving average of $10.52. The firm has a market cap of $1.09 billion and a P/E ratio of 19.46.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, December 2nd will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, November 22nd.
Cascades Company Profile
Cascades Inc (Cascades) is a Canada-based company that produces, converts and markets packaging and tissue products consisting of recycled fibers. The Company operates through four segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers.
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