Cascades (TSE:CAS) Cut to “Sector Perform” at National Bankshares

National Bankshares lowered shares of Cascades (TSE:CASGet Rating) from an outperform rating to a sector perform rating in a research note released on Friday, BayStreet.CA reports. National Bankshares currently has C$10.00 price objective on the stock, down from their previous price objective of C$14.00.

Several other analysts have also commented on CAS. Scotiabank decreased their price target on Cascades from C$17.00 to C$15.00 in a research note on Friday. BMO Capital Markets reduced their price objective on Cascades from C$20.00 to C$17.00 in a research note on Friday, May 13th. Royal Bank of Canada downgraded Cascades from an outperform rating to a hold rating and dropped their target price for the stock from C$15.00 to C$11.00 in a research report on Monday, July 18th. TD Securities dropped their price objective on Cascades from C$14.00 to C$10.50 and set a hold rating for the company in a report on Friday, May 13th. Finally, CIBC lowered their price target on Cascades from C$14.00 to C$11.00 and set a neutral rating for the company in a report on Monday, May 16th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of Hold and an average target price of C$13.31.

Cascades Stock Down 8.6 %

Shares of Cascades stock opened at C$8.60 on Friday. The firm has a market cap of C$864.08 million and a price-to-earnings ratio of 6.06. The company has a debt-to-equity ratio of 83.25, a current ratio of 1.48 and a quick ratio of 0.78. Cascades has a 52-week low of C$8.50 and a 52-week high of C$16.45. The stock has a 50-day simple moving average of C$9.92 and a 200-day simple moving average of C$11.66.

Cascades (TSE:CASGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported C($0.15) EPS for the quarter, missing the consensus estimate of C$0.03 by C($0.18). The business had revenue of C$1.04 billion during the quarter, compared to the consensus estimate of C$1.02 billion. On average, equities research analysts expect that Cascades will post 1.34 earnings per share for the current fiscal year.

Cascades Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, September 1st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.58%. The ex-dividend date is Tuesday, August 16th. Cascades’s dividend payout ratio (DPR) is currently 30.99%.

Insider Transactions at Cascades

In related news, Senior Officer Allan Hogg purchased 5,000 shares of Cascades stock in a transaction on Friday, May 13th. The shares were bought at an average cost of C$9.70 per share, for a total transaction of C$48,500.00. Following the acquisition, the insider now owns 97,949 shares in the company, valued at approximately C$950,105.30. In other news, Senior Officer Allan Hogg acquired 5,000 shares of Cascades stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average price of C$9.70 per share, for a total transaction of C$48,500.00. Following the purchase, the insider now directly owns 97,949 shares in the company, valued at approximately C$950,105.30. Also, Senior Officer Robert F. Hall sold 56,150 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of C$10.21, for a total transaction of C$573,291.50. Following the completion of the sale, the insider now owns 276,977 shares in the company, valued at approximately C$2,827,935.17. In the last 90 days, insiders have acquired 5,900 shares of company stock worth $57,331 and have sold 216,764 shares worth $2,187,531.

Cascades Company Profile

(Get Rating)

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 manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.

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