Cascades Inc. (TSE:CAS) Receives C$11.83 Average PT from Brokerages

Cascades Inc. (TSE:CAS) has earned a consensus recommendation of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$11.50.

CAS has been the subject of a number of analyst reports. Royal Bank of Canada cut their target price on Cascades from C$11.00 to C$10.00 in a research note on Thursday. National Bankshares dropped their price objective on Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. Scotiabank dropped their price objective on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 24th. Desjardins dropped their price objective on Cascades from C$14.50 to C$13.00 and set a “hold” rating for the company in a research note on Thursday, March 28th. Finally, CIBC dropped their price objective on Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th.

Insiders Place Their Bets

In other Cascades news, Director Alain Lemaire sold 48,033 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total transaction of C$455,833.17. In other news, Director Alain Lemaire sold 48,033 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$9.49, for a total transaction of C$455,833.17. Also, Director Mario Plourde sold 91,680 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total value of C$898,464.00. Over the last 90 days, insiders sold 221,300 shares of company stock valued at $2,134,240. Corporate insiders own 23.84% of the company’s stock.

Cascades Stock Performance

Shares of CAS stock opened at C$8.96 on Monday. The company has a market cap of C$902.36 million, a price-to-earnings ratio of -42.67, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. The stock has a 50 day simple moving average of C$9.41 and a 200-day simple moving average of C$10.83. Cascades has a 12-month low of C$8.83 and a 12-month high of C$15.00. The company has a current ratio of 1.23, a quick ratio of 0.86 and a debt-to-equity ratio of 115.94.

Cascades Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, June 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend was Thursday, June 6th. Cascades’s payout ratio is -228.57%.

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.