Cascades (TSE:CAS) Sets New 12-Month High on Analyst Upgrade

Shares of Cascades Inc. (TSE:CAS) reached a new 52-week high on Monday after Scotia raised their price target on the stock from C$16.00 to C$20.50. Scotia currently has a sector outperform rating on the stock. Cascades traded as high as C$17.97 and last traded at C$17.92, with a volume of 119760 shares traded. The stock had previously closed at C$17.83.

A number of other research firms have also recently commented on CAS. Canadian Imperial Bank of Commerce raised shares of Cascades from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on Cascades from C$15.00 to C$18.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. TD lifted their price target on Cascades from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. National Bank Financial boosted their price objective on Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Finally, Desjardins lifted their price objective on Cascades from C$13.00 to C$19.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$16.50.

Cascades Price Performance

The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 111.08. The firm has a 50 day moving average price of C$12.75 and a 200-day moving average price of C$12.03. The firm has a market capitalization of C$1.80 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 0.56 and a beta of 1.04.

Cascades (TSE:CAS) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.24 earnings per share for the quarter. Cascades had a return on equity of 7.24% and a net margin of 2.64%.The firm had revenue of C$1.22 billion for the quarter. On average, analysts expect that Cascades Inc. will post 1.2959309 earnings per share for the current year.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. Cascades’s dividend payout ratio is presently 38.71%.

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.