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

Cascades Inc. (TSE:CAS) has earned a consensus rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$11.92.

CAS has been the subject of a number of recent research reports. TD Securities increased their price objective on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Friday, November 8th. CIBC lowered their price objective on Cascades from C$11.00 to C$10.50 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada raised their target price on Cascades from C$11.00 to C$12.00 in a research note on Friday, November 8th. Finally, Scotiabank lowered their price target on shares of Cascades from C$12.00 to C$11.00 and set a “sector perform” rating on the stock in a research report on Monday, August 12th.

Cascades Price Performance

Cascades stock opened at C$11.14 on Friday. The company has a fifty day simple moving average of C$10.30 and a 200-day simple moving average of C$9.70. The firm has a market capitalization of C$1.13 billion, a price-to-earnings ratio of -26.52, a PEG ratio of 0.56 and a beta of 0.15. The company has a quick ratio of 0.86, a current ratio of 1.23 and a debt-to-equity ratio of 119.55. Cascades has a 52-week low of C$8.83 and a 52-week high of C$15.00.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.48 dividend on an annualized basis and a yield of 4.31%. Cascades’s dividend payout ratio (DPR) is presently -114.29%.

Insiders Place Their Bets

In related news, Senior Officer Luc Langevin sold 3,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of C$11.30, for a total value of C$33,900.00. 23.78% of the stock is owned by company insiders.

Cascades Company Profile

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.