Cascades Inc. (TSE:CAS) Given Average Recommendation of “Hold” by Analysts

Cascades Inc. (TSE:CAS) has earned an average recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$11.08.

CAS has been the subject of a number of research analyst reports. Royal Bank of Canada cut their target price on shares of Cascades from C$11.00 to C$10.00 in a research report on Thursday, July 11th. CIBC cut their price objective on shares of Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Scotiabank cut their price objective on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a research report on Monday, August 12th.

Cascades Trading Down 1.3 %

Shares of TSE:CAS opened at C$9.32 on Tuesday. The stock has a market capitalization of C$941.23 million, a PE ratio of -22.19, a P/E/G ratio of 0.56 and a beta of 0.14. Cascades has a 1 year low of C$8.83 and a 1 year high of C$15.00. The firm has a fifty day moving average price of C$9.25 and a 200 day moving average price of C$9.88. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 119.55.

Cascades Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, September 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Thursday, September 5th. Cascades’s dividend payout ratio is currently -114.29%.

Insider Buying and Selling

In other Cascades news, Director Hugues Simon purchased 11,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of C$9.10 per share, with a total value of C$100,100.00. In other news, Director Hugues Simon acquired 11,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of C$9.10 per share, with a total value of C$100,100.00. Also, Senior Officer Robert F. Hall sold 34,631 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of C$9.36, for a total transaction of C$324,146.16. Company insiders own 23.78% of the company’s stock.

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.