Cascades Inc. (TSE:CAS – Get Free Report) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$11.83.
CAS has been the topic of a number of research reports. Royal Bank of Canada raised their price target on Cascades from C$11.00 to C$12.00 in a research note on Friday, May 10th. National Bankshares dropped their price target on Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. Scotiabank dropped their price target on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 24th. CIBC dropped their price target on Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th. Finally, TD Securities dropped their price target on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th.
Get Our Latest Research Report on CAS
Cascades Trading Up 0.2 %
Cascades Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, June 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.48 annualized dividend and a dividend yield of 5.35%. Cascades’s dividend payout ratio (DPR) is currently -228.57%.
Insider Buying and Selling at Cascades
In other news, Senior Officer Robert F. Hall sold 34,631 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of C$9.36, for a total value of C$324,146.16. In other news, Senior Officer Maryse Fernet sold 13,321 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$9.80, for a total value of C$130,545.80. Also, Senior Officer Robert F. Hall sold 34,631 shares of the firm’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. In the last ninety days, insiders have sold 221,300 shares of company stock worth $2,134,240. 23.84% of the stock is currently owned by insiders.
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.
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