Cascades Inc. (TSE:CAS – Get Free Report) has earned an average recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$11.33.
A number of research analysts recently commented on the company. TD Securities reduced their price target on Cascades from C$12.00 to C$11.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. CIBC reduced their price target on Cascades from C$12.00 to C$11.00 in a report on Thursday, July 18th. Scotiabank reduced their price target on Cascades from C$13.50 to C$12.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. National Bankshares reduced their price target on Cascades from C$13.50 to C$11.00 in a report on Thursday, April 11th. Finally, Royal Bank of Canada reduced their price target on Cascades from C$11.00 to C$10.00 in a report on Thursday, July 11th.
Get Our Latest Analysis on Cascades
Cascades Price Performance
Cascades Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Thursday, August 22nd. Cascades’s dividend payout ratio is presently -228.57%.
Insiders Place Their Bets
In other Cascades news, Senior Officer Maryse Fernet sold 13,321 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$9.80, for a total transaction of C$130,545.80. In other news, Director Mario Plourde sold 91,680 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$9.80, for a total transaction of C$898,464.00. Also, Senior Officer Maryse Fernet sold 13,321 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$9.80, for a total value of C$130,545.80. Insiders have sold a total of 221,300 shares of company stock valued at $2,134,240 in the last quarter. Insiders own 23.84% of the company’s stock.
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.
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