Cascades (TSE:CAS) Price Target Cut to C$11.00

Cascades (TSE:CAS) had its price objective trimmed by National Bankshares from C$13.50 to C$11.00 in a research report report published on Thursday morning, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. CIBC cut Cascades from an outperform rating to a neutral rating and cut their price objective for the stock from C$17.00 to C$14.00 in a report on Friday, February 23rd. Desjardins reduced their price target on Cascades from C$14.50 to C$13.00 and set a hold rating on the stock in a research report on Thursday, March 28th. Royal Bank of Canada lowered Cascades from an outperform rating to a sector perform rating and reduced their price target for the stock from C$15.00 to C$14.00 in a research report on Friday, February 23rd. Finally, TD Securities reduced their price target on Cascades from C$16.00 to C$14.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of C$12.80.

Cascades Price Performance

Shares of TSE CAS opened at C$9.34 on Thursday. The firm has a market capitalization of C$940.63 million, a P/E ratio of -12.29, a P/E/G ratio of 0.56 and a beta of 0.06. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 108.76. The stock’s 50-day simple moving average is C$11.09 and its two-hundred day simple moving average is C$12.02. Cascades has a twelve month low of C$9.31 and a twelve month high of C$15.00.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. The firm had revenue of C$1.14 billion during the quarter, compared to analysts’ expectations of C$1.22 billion. As a group, equities analysts anticipate that Cascades will post 0.8298611 EPS for the current fiscal year.

Cascades Increases Dividend

The firm also recently declared a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were paid a $0.48 dividend. The ex-dividend date was Thursday, March 21st. This represents a dividend yield of 4.66%. This is a boost from Cascades’s previous 1 dividend of $0.12. Cascades’s payout ratio is currently -63.16%.

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.