Cascades Inc. (TSE:CAS - Free Report) - Equities researchers at Scotiabank boosted their FY2024 EPS estimates for shares of Cascades in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst J. Goldman now forecasts that the company will post earnings of $0.64 per share for the year, up from their prior forecast of $0.48. The consensus estimate for Cascades' current full-year earnings is $1.30 per share. Scotiabank also issued estimates for Cascades' FY2025 earnings at $1.39 EPS.
A number of other brokerages have also commented on CAS. Royal Bank of Canada boosted their target price on Cascades from C$12.00 to C$13.00 and gave the company a "sector perform" rating in a research report on Friday, December 20th. TD Securities lifted their price target on shares of Cascades from C$12.00 to C$14.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Cascades has a consensus rating of "Hold" and an average target price of C$12.08.
Read Our Latest Stock Report on CAS
Cascades Stock Down 1.2 %
CAS traded down C$0.14 during midday trading on Monday, hitting C$12.01. The company had a trading volume of 46,057 shares, compared to its average volume of 134,723. The company has a market capitalization of C$1.21 billion, a price-to-earnings ratio of -28.60, a PEG ratio of 0.56 and a beta of 0.15. The stock's 50 day moving average price is C$11.69 and its 200 day moving average price is C$10.36. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 119.55. Cascades has a 52 week low of C$8.83 and a 52 week high of C$15.00.
Cascades Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, December 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, November 21st. Cascades's payout ratio is currently -114.29%.
Insider Activity at Cascades
In other news, Senior Officer Luc Langevin sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total transaction of C$33,900.00. 23.78% of the stock is owned by insiders.
Cascades Company Profile
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Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.
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