Cascades Inc. (TSE:CAS) Receives Average Recommendation of “Moderate Buy” from Analysts

Cascades Inc. (TSE:CAS) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$13.64.

A number of equities research analysts have weighed in on CAS shares. Scotiabank dropped their price target on shares of Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada dropped their price target on shares of Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. TD dropped their price target on shares of Cascades from C$14.00 to C$13.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Desjardins dropped their price target on shares of Cascades from C$15.00 to C$13.00 and set a “hold” rating for the company in a research report on Monday, April 13th. Finally, TD Securities dropped their price target on shares of Cascades from C$16.00 to C$15.00 and set a “buy” rating for the company in a research report on Friday, February 27th.

Insider Buying and Selling at Cascades

In related news, insider Laurent Lemaire purchased 23,302 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of C$10.52 per share, for a total transaction of C$245,137.04. Following the completion of the transaction, the insider directly owned 7,837,637 shares in the company, valued at approximately C$82,451,941.24. The trade was a 0.30% increase in their ownership of the stock. 23.78% of the stock is currently owned by corporate insiders.

Cascades Price Performance

Cascades stock opened at C$10.74 on Friday. Cascades has a 12-month low of C$8.80 and a 12-month high of C$14.20. The stock has a market cap of C$1.09 billion, a P/E ratio of 10.74, a PEG ratio of 0.56 and a beta of 1.09. The company has a 50-day moving average price of C$10.85 and a 200 day moving average price of C$11.98. The company has a current ratio of 1.53, a quick ratio of 0.86 and a debt-to-equity ratio of 113.03.

Cascades (TSE:CAS) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.07 earnings per share for the quarter. Cascades had a net margin of 2.15% and a return on equity of 5.95%. The business had revenue of C$1.13 billion during the quarter. Sell-side analysts anticipate that Cascades will post 1.2959309 earnings per share for the current year.

Cascades Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.5%. Cascades’s dividend payout ratio (DPR) is currently 48.00%.

About Cascades

Cascades Inc, along with its subsidiaries, produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The company is organized into four main business segments: Containerboard, Boxboard Europe, Specialty Products (which constitutes packaging products), and Tissue Papers. The business activity of the company functions in Canada, the United States, Italy, and other countries. Its customer base includes food processing companies, the maintenance industry, accommodations, and housing industry, micro-businesses, and boutiques.