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

Shares of Cascades Inc. (TSE:CAS) have received an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$13.64.

A number of analysts have weighed in on the stock. TD reduced their price objective on shares of Cascades from C$14.00 to C$13.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Desjardins reduced 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 note on Monday, April 13th. TD Securities reduced 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 note on Friday, February 27th. National Bank Financial reduced their price target on shares of Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Finally, Royal Bank Of Canada reduced 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 note on Friday, May 8th.

Cascades Price Performance

TSE:CAS opened at C$10.44 on Wednesday. The firm has a market cap of C$1.06 billion, a P/E ratio of 10.44, a P/E/G ratio of 0.56 and a beta of 1.07. The company has a debt-to-equity ratio of 113.03, a quick ratio of 0.86 and a current ratio of 1.53. Cascades has a fifty-two week low of C$8.55 and a fifty-two week high of C$14.20. The firm has a 50-day simple moving average of C$11.09 and a two-hundred day simple moving average of C$12.10.

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

Cascades Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th will be paid a $0.12 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.6%. Cascades’s payout ratio is currently 48.00%.

Insider Activity at Cascades

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

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.