Cascades (TSE:CAS) Upgraded to “Strong-Buy” at Scotiabank

Scotiabank upgraded shares of Cascades (TSE:CAS) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. CIBC boosted their target price on Cascades from C$12.00 to C$13.00 in a research report on Wednesday, January 15th. Royal Bank of Canada raised their target price on shares of Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a report on Friday, December 20th. Finally, TD Securities increased their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.50.

Cascades Price Performance

TSE CAS opened at C$13.25 on Monday. The stock has a market capitalization of C$1.34 billion, a price-to-earnings ratio of -31.55, a PEG ratio of 0.56 and a beta of 0.15. Cascades has a 1-year low of C$8.83 and a 1-year high of C$14.96. The company has a debt-to-equity ratio of 119.55, a current ratio of 1.23 and a quick ratio of 0.86. The business’s fifty day moving average price is C$12.08 and its 200-day moving average price is C$10.66.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.27 EPS for the quarter, topping the consensus estimate of C$0.14 by C$0.13. Cascades had a negative return on equity of 1.44% and a negative net margin of 0.91%. During the same period last year, the business posted $0.44 earnings per share. On average, equities analysts predict that Cascades will post 1.2959309 earnings per share for the current year.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Thursday, November 21st. Cascades’s dividend payout ratio (DPR) is -114.29%.

Insider Buying and Selling at Cascades

In other Cascades news, Senior Officer Luc Langevin sold 3,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total value of C$33,900.00. 23.78% of the stock is owned by corporate 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.