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

Cascades Inc. (TSE:CAS) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$13.64.

A number of analysts have commented on CAS shares. TD Securities reduced their target price on Cascades from C$16.00 to C$15.00 and set a “buy” rating for the company in a report on Friday, February 27th. Royal Bank Of Canada reduced their target price 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 reduced their target price on Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a report on Monday, April 13th. TD reduced their target price on Cascades from C$14.00 to C$13.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, National Bank Financial reduced their target price on Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a report on Friday, May 8th.

Insider Activity at Cascades

In other news, insider Laurent Lemaire acquired 23,302 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of C$10.52 per share, with a total value of C$245,137.04. Following the completion of the acquisition, the insider directly owned 7,837,637 shares of the company’s stock, valued at approximately C$82,451,941.24. The trade was a 0.30% increase in their position. 23.78% of the stock is owned by insiders.

Cascades Stock Down 1.2%

CAS stock opened at C$10.31 on Wednesday. Cascades has a twelve month low of C$8.55 and a twelve month high of C$14.20. The company has a quick ratio of 0.86, a current ratio of 1.53 and a debt-to-equity ratio of 113.03. The firm has a market cap of C$1.04 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.56 and a beta of 1.07. The business has a 50 day moving average of C$11.01 and a 200 day moving average of C$12.08.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. The company had revenue of C$1.13 billion during the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%. On average, research analysts forecast that Cascades will post 1.2959309 EPS for the current fiscal year.

Cascades Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.7%. Cascades’s dividend payout ratio (DPR) is presently 48.00%.

Cascades Company Profile

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.