Brokerages Set Cascades Inc. (TSE:CAS) Target Price at C$11.08

Cascades Inc. (TSE:CAS) has been given an average recommendation of “Hold” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$11.08.

A number of brokerages recently commented on CAS. Scotiabank decreased their target price on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research report on Monday, August 12th. CIBC cut their price target on Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, Royal Bank of Canada decreased their price objective on Cascades from C$11.00 to C$10.00 in a report on Thursday, July 11th.

Cascades Trading Up 2.6 %

Shares of CAS stock opened at C$10.73 on Wednesday. Cascades has a fifty-two week low of C$8.83 and a fifty-two week high of C$15.00. The company has a debt-to-equity ratio of 119.55, a quick ratio of 0.86 and a current ratio of 1.23. The stock has a 50 day simple moving average of C$9.73 and a two-hundred day simple moving average of C$9.53. The company has a market cap of C$1.08 billion, a P/E ratio of -25.55, a PEG ratio of 0.56 and a beta of 0.15.

Cascades (TSE:CAS) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.08 earnings per share for the quarter, beating the consensus estimate of C$0.06 by C$0.02. Cascades had a negative net margin of 0.91% and a negative return on equity of 1.44%. The company had revenue of C$1.18 billion during the quarter, compared to analyst estimates of C$1.17 billion. Research analysts forecast that Cascades will post 1.2959309 earnings per share for the current year.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, September 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Thursday, September 5th. Cascades’s dividend payout ratio (DPR) is currently -114.29%.

Insider Activity at Cascades

In other Cascades news, Director Hugues Simon bought 11,000 shares of the stock in a transaction on Friday, August 9th. The shares were acquired at an average price of C$9.10 per share, with a total value of C$100,100.00. 23.78% of the stock is currently owned by corporate insiders.

Cascades Company Profile

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.