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

Cascades Inc. (TSE:CAS) has been given an average rating of “Hold” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$11.50.

A number of equities research analysts have recently commented on the stock. Desjardins reduced their price objective on shares of Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a research note on Thursday, March 28th. Scotiabank decreased their price target on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. TD Securities lowered their price objective on Cascades from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. National Bankshares cut their target price on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. Finally, CIBC lowered their target price on Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th.

Cascades Stock Performance

TSE:CAS opened at C$8.96 on Monday. The company has a debt-to-equity ratio of 115.94, a quick ratio of 0.86 and a current ratio of 1.23. Cascades has a fifty-two week low of C$8.83 and a fifty-two week high of C$15.00. The company has a 50 day simple moving average of C$9.41 and a two-hundred day simple moving average of C$10.86. The company has a market capitalization of C$902.36 million, a PE ratio of -42.67, a P/E/G ratio of 0.56 and a beta of 0.07.

Cascades Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, June 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Thursday, June 6th. Cascades’s dividend payout ratio (DPR) is currently -228.57%.

Insider Buying and Selling at Cascades

In related news, Senior Officer Maryse Fernet sold 13,321 shares of the stock in a transaction 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. In other news, Senior Officer Maryse Fernet sold 13,321 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of C$9.80, for a total transaction of C$130,545.80. Also, Director Mario Plourde sold 91,680 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$9.80, for a total transaction of C$898,464.00. Over the last quarter, insiders sold 221,300 shares of company stock valued at $2,134,240. Company insiders own 23.84% of the company’s stock.

Cascades Company Profile

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.