Cascades Inc (TSE:CAS) – Equities research analysts at National Bank Financial reduced their FY2017 earnings per share estimates for Cascades in a report issued on Sunday. National Bank Financial analyst L. Aghazarian now anticipates that the company will post earnings of $0.79 per share for the year, down from their prior estimate of $0.80. National Bank Financial has a “Outperform” rating and a $21.00 price objective on the stock.
Several other brokerages have also issued reports on CAS. Scotiabank boosted their price target on Cascades from C$16.75 to C$18.00 and gave the company a “sector perform” rating in a research note on Friday, November 10th. Desjardins boosted their price target on Cascades from C$15.50 to C$19.00 in a research note on Tuesday, January 30th. CIBC lowered their price target on Cascades from C$18.00 to C$14.00 in a research note on Monday, November 13th. Finally, TD Securities lowered their price target on Cascades from C$18.00 to C$16.50 and set a “hold” rating on the stock in a research note on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of C$18.29.
Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, November 9th. The company reported C$0.20 EPS for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.10). The business had revenue of C$1.10 billion during the quarter, compared to the consensus estimate of C$1.16 billion. Cascades had a return on equity of 9.16% and a net margin of 3.17%.
In related news, insider Bernard Lemaire sold 118,500 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of C$12.69, for a total transaction of C$1,503,765.00. Insiders have sold 519,300 shares of company stock worth $7,705,957 over the last 90 days.
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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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