Cascades (TSE:CAS – Free Report) had its price objective lowered by Scotiabank from C$13.50 to C$12.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.
A number of other research analysts also recently commented on CAS. Royal Bank of Canada reduced their price target on Cascades from C$14.00 to C$11.00 and set a sector perform rating for the company in a report on Friday, April 19th. CIBC reduced their price target on Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. National Bankshares reduced their target price on Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. TD Securities reduced their target price on Cascades from C$12.00 to C$11.00 and set a buy rating on the stock in a report on Tuesday, April 16th. Finally, Desjardins reduced their target price on Cascades from C$14.50 to C$13.00 and set a hold rating on the stock in a report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of C$11.67.
Cascades Price Performance
Cascades (TSE:CAS – Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.05 EPS for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). The business had revenue of C$1.14 billion during the quarter, compared to analysts’ expectations of C$1.22 billion. Cascades had a negative net margin of 1.64% and a negative return on equity of 2.86%. On average, equities analysts predict that Cascades will post 0.8298611 earnings per share for the current fiscal year.
Cascades Increases Dividend
The business also recently declared a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were given a dividend of $0.48 per share. This represents a dividend yield of 4.66%. This is a boost from Cascades’s previous 1 dividend of $0.12. The ex-dividend date was Thursday, March 21st. Cascades’s dividend payout ratio is presently -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.
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