Cascades Inc. (TSE:CAS) Receives C$11.08 Average PT from Brokerages

Cascades Inc. (TSE:CAS) has been assigned a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$11.08.

CAS has been the topic of a number of research reports. Royal Bank of Canada decreased their target price on shares of Cascades from C$11.00 to C$10.00 in a research note on Thursday, July 11th. Scotiabank reduced their price objective on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Finally, CIBC dropped their target price on Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research report on Monday, August 12th.

Insiders Place Their Bets

In related news, Director Hugues Simon acquired 11,000 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of C$9.10 per share, for a total transaction of C$100,100.00. Company insiders own 23.78% of the company’s stock.

Cascades Stock Performance

TSE:CAS opened at C$10.73 on Wednesday. Cascades has a twelve month low of C$8.83 and a twelve month high of C$15.00. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 119.55. The stock’s 50-day simple moving average is C$9.73 and its 200 day simple moving average is C$9.53. The firm has a market capitalization of C$1.08 billion, a PE ratio of -25.55, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15.

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

Cascades Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, September 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.47%. The ex-dividend date was Thursday, September 5th. Cascades’s dividend payout ratio is currently -114.29%.

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.