Scotiabank upgraded shares of Cascades (TSE:CAS – Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.
Several other research analysts have also recently issued reports on CAS. CIBC increased their target price on shares of Cascades from C$12.00 to C$13.00 in a report on Wednesday, January 15th. Royal Bank of Canada increased their price objective on shares of Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Friday, December 20th. Finally, TD Securities boosted their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cascades presently has an average rating of “Moderate Buy” and a consensus target price of C$12.50.
View Our Latest Stock Report on Cascades
Cascades Stock Performance
Cascades (TSE:CAS – Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported C$0.27 earnings per share for the quarter, topping the consensus estimate of C$0.14 by C$0.13. Cascades had a negative return on equity of 1.44% and a negative net margin of 0.91%. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, equities analysts forecast that Cascades will post 1.2959309 earnings per share for the current year.
Cascades Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, December 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 3.69%. The ex-dividend date was Thursday, November 21st. Cascades’s payout ratio is presently -114.29%.
Insider Activity
In related news, Senior Officer Luc Langevin sold 3,000 shares of Cascades stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of C$11.30, for a total value of C$33,900.00. 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.
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