Brokers Issue Forecasts for Cascades Inc’s FY2016 Earnings (CAS)
Cascades Inc (TSE:CAS) – Stock analysts at Desjardins cut their FY2016 earnings estimates for shares of Cascades in a report released on Monday. Desjardins analyst K. Howlett now forecasts that the firm will post earnings of $1.28 per share for the year, down from their previous forecast of $1.33. Desjardins currently has a “Buy” rating and a $15.00 target price on the stock. Desjardins also issued estimates for Cascades’ Q4 2016 earnings at $0.24 EPS.
A number of other research analysts also recently issued reports on the company. CIBC upgraded Cascades from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from C$8.00 to C$12.00 in a research note on Monday, August 29th. National Bank Financial cut Cascades from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Friday, August 5th. Scotiabank increased their price objective on Cascades from C$12.75 to C$14.75 and gave the stock an “outperform” rating in a research report on Wednesday, September 28th. TD Securities increased their price objective on Cascades from C$11.50 to C$12.50 and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Dundee Securities increased their price objective on Cascades from C$13.00 to C$15.00 in a research report on Monday, September 19th. Six equities research analysts have rated the stock with a buy rating, Cascades presently has a consensus rating of “Buy” and an average price target of C$14.56.
Shares of Cascades (TSE:CAS) opened at 11.50 on Tuesday. The stock has a market capitalization of $1.09 billion and a PE ratio of 19.83. Cascades has a 12 month low of $7.72 and a 12 month high of $13.65. The company’s 50 day moving average price is $12.58 and its 200 day moving average price is $10.58.
The firm also recently declared 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. The ex-dividend date is Tuesday, November 22nd. This represents a $0.16 annualized dividend and a dividend yield of 1.39%.
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.
Receive News & Stock Ratings for Cascades Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cascades Inc and related stocks with our FREE daily email newsletter.