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

Cascades (TSE:CAS) had its price target cut by TD Securities from C$12.00 to C$11.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on CAS. Desjardins lowered their price objective 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. National Bankshares lowered their price target on Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. Royal Bank of Canada cut Cascades from an outperform rating to a sector perform rating and lowered their price target for the company from C$15.00 to C$14.00 in a report on Friday, February 23rd. Finally, CIBC reduced their price objective on Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of C$12.20.

Cascades Stock Up 0.8 %

CAS stock opened at C$9.39 on Tuesday. Cascades has a fifty-two week low of C$9.16 and a fifty-two week high of C$15.00. The business’s 50 day moving average price is C$10.89 and its two-hundred day moving average price is C$11.98. The company has a debt-to-equity ratio of 108.76, a quick ratio of 0.86 and a current ratio of 1.33. The company has a market capitalization of C$945.67 million, a price-to-earnings ratio of -12.36, a price-to-earnings-growth ratio of 0.56 and a beta of 0.06.

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

Cascades Increases Dividend

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