Cascades (TSE:CAS) issued its quarterly earnings data on Thursday. The company reported C$0.39 EPS for the quarter, beating the consensus estimate of C$0.38 by C$0.01, Morningstar.com reports. The firm had revenue of C$1.17 billion for the quarter, compared to analysts’ expectations of C$1.19 billion.
CAS stock opened at C$10.58 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.52 and a debt-to-equity ratio of 98.13. Cascades has a one year low of C$9.88 and a one year high of C$16.67.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Wednesday, December 5th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.16 dividend on an annualized basis and a yield of 1.51%. Cascades’s dividend payout ratio is presently 8.78%.
In other Cascades news, insider Robert F. Hall sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of C$13.58, for a total value of C$950,600.00. Also, Director Charles Malo sold 9,432 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of C$13.08, for a total transaction of C$123,370.56.
Several brokerages recently commented on CAS. Royal Bank of Canada reduced their price objective on shares of Cascades from C$18.00 to C$17.00 and set an “outperform” rating for the company in a research note on Friday, August 10th. Desjardins boosted their price objective on shares of Cascades from C$17.00 to C$18.00 in a research note on Friday, August 10th. CIBC cut their price target on shares of Cascades from C$16.00 to C$15.00 in a research note on Monday, October 15th. Finally, National Bank Financial cut their price target on shares of Cascades from C$18.00 to C$16.00 and set an “outperform” rating for the company in a research note on Tuesday, October 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of C$16.42.
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Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.
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