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

Shares of Cascades Inc. (TSE:CAS) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$13.93.

A number of brokerages recently issued reports on CAS. National Bank Financial dropped their price objective on shares of Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a report on Friday, May 8th. Scotiabank cut their target price on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research report on Monday, April 13th. TD increased their target price on shares of Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada reduced their price objective on Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce raised shares of Cascades from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st.

Insider Activity at Cascades

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

Cascades Price Performance

Shares of TSE CAS opened at C$13.13 on Monday. Cascades has a fifty-two week low of C$8.90 and a fifty-two week high of C$14.20. The business has a fifty day moving average price of C$11.36 and a two-hundred day moving average price of C$11.80. The company has a debt-to-equity ratio of 113.03, a current ratio of 1.53 and a quick ratio of 0.86. The stock has a market capitalization of C$1.33 billion, a PE ratio of 13.13, a P/E/G ratio of 0.56 and a beta of 1.03.

Cascades (TSE:CAS) last issued its 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 firm had revenue of C$1.12 billion for the quarter. As a group, equities analysts predict that Cascades will post 1.2959309 earnings per share for the current fiscal year.

Cascades Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, May 21st. Cascades’s payout ratio is currently 48.00%.

Cascades Company Profile

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.