Cascades Inc. (TSE:CAS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cascades Inc. (TSE:CAS) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$13.64.

CAS has been the subject of a number of research reports. National Bank Financial decreased their target price on shares of Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada cut their price objective on Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Scotiabank lowered their target price on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Desjardins dropped their target price on Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Finally, TD cut their price target on Cascades from C$14.00 to C$13.00 and set a “buy” rating for the company in a research note on Friday, May 8th.

Insiders Place Their Bets

In other Cascades news, insider Laurent Lemaire bought 23,302 shares of Cascades stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the purchase, the insider directly owned 7,837,637 shares of the company’s stock, valued at C$82,451,941.24. The trade was a 0.30% increase in their ownership of the stock. Insiders own 23.78% of the company’s stock.

Cascades Price Performance

Shares of CAS opened at C$11.61 on Thursday. The business’s 50-day moving average is C$10.97 and its 200-day moving average is C$11.81. The company has a debt-to-equity ratio of 113.03, a current ratio of 1.53 and a quick ratio of 0.86. The company has a market capitalization of C$1.18 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 0.56 and a beta of 1.03. Cascades has a fifty-two week low of C$8.90 and a fifty-two week high of C$14.20.

Cascades (TSE:CAS) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.07 EPS for the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. The business had revenue of C$1.12 billion during the quarter. Equities research analysts expect that Cascades will post 1.2959309 EPS for the current fiscal year.

Cascades Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, June 4th were issued a $0.12 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 4.1%. Cascades’s dividend payout ratio is currently 48.00%.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.