Cascades Inc. (TSE:CAS) Receives Average Rating of “Hold” from Brokerages

Shares of Cascades Inc. (TSE:CAS) have been given a consensus rating of “Hold” by the six research firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$11.33.

Several equities research analysts have recently weighed in on the company. TD Securities cut their target price on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Scotiabank cut their target price on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 24th. Royal Bank of Canada cut their target price on Cascades from C$11.00 to C$10.00 in a research report on Thursday, July 11th. National Bankshares cut their target price on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. Finally, CIBC cut their target price on Cascades from C$12.00 to C$11.00 in a research report on Thursday, July 18th.

Cascades Stock Performance

Shares of CAS opened at C$9.38 on Friday. The company has a debt-to-equity ratio of 115.94, a quick ratio of 0.86 and a current ratio of 1.23. Cascades has a 1 year low of C$8.83 and a 1 year high of C$15.00. The stock has a market capitalization of C$944.66 million, a PE ratio of -44.67, a PEG ratio of 0.56 and a beta of 0.07. The stock has a 50-day simple moving average of C$9.30 and a 200-day simple moving average of C$10.36.

Cascades Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Thursday, August 22nd. Cascades’s dividend payout ratio (DPR) is -228.57%.

Insiders Place Their Bets

In other Cascades news, Director Alain Lemaire sold 48,033 shares of Cascades stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total transaction of C$455,833.17. In other news, Director Alain Lemaire sold 48,033 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total value of C$455,833.17. Also, Senior Officer Robert F. Hall sold 34,631 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of C$9.36, for a total value of C$324,146.16. Insiders have sold a total of 221,300 shares of company stock valued at $2,134,240 over the last quarter. Company insiders own 23.84% of the company’s stock.

About Cascades

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.