Scotiabank Cuts Cascades (TSE:CAS) Price Target to C$12.00

Cascades (TSE:CAS) had its price objective lowered by analysts at Scotiabank from C$13.50 to C$12.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 30.01% from the company’s previous close.

Other analysts have also recently issued reports about the company. CIBC decreased their price objective on Cascades from C$14.00 to C$12.00 in a research report on Thursday, April 11th. National Bankshares decreased their price objective on Cascades from C$13.50 to C$11.00 in a research report on Thursday, April 11th. Desjardins decreased their price objective on Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company in a research report on Thursday, March 28th. TD Securities decreased 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$11.67.

Cascades Stock Performance

TSE:CAS traded down C$0.19 during mid-day trading on Wednesday, reaching C$9.23. 163,201 shares of the stock were exchanged, compared to its average volume of 266,366. The company has a 50 day simple moving average of C$10.49 and a 200-day simple moving average of C$11.90. The stock has a market capitalization of C$929.55 million, a P/E ratio of -12.16, a P/E/G ratio of 0.56 and a beta of 0.06. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 108.76. Cascades has a 1 year low of C$9.14 and a 1 year high of C$15.00.

Cascades (TSE:CAS) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). The firm had revenue of C$1.14 billion for the quarter, compared to analysts’ expectations of C$1.22 billion. Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. Analysts anticipate that Cascades will post 0.8298611 earnings per share for the current fiscal year.

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.