Scotiabank Lowers Cascades (TSE:CAS) Price Target to C$12.00

Cascades (TSE:CAS) had its price target trimmed by Scotiabank from C$13.50 to C$12.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other equities research analysts have also weighed in on CAS. TD Securities lowered their target price on shares of Cascades from C$12.00 to C$11.00 and set a buy rating on the stock in a report on Tuesday, April 16th. Desjardins decreased their price objective on shares of 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. Royal Bank of Canada decreased their price objective on shares of Cascades from C$14.00 to C$11.00 and set a sector perform rating for the company in a research note on Friday, April 19th. National Bankshares decreased their price objective on shares of Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. Finally, CIBC decreased their price objective on shares of Cascades from C$14.00 to C$12.00 in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of C$11.67.

Cascades Trading Down 0.1 %

CAS opened at C$9.18 on Wednesday. The company has a debt-to-equity ratio of 108.76, a current ratio of 1.33 and a quick ratio of 0.86. Cascades has a fifty-two week low of C$9.10 and a fifty-two week high of C$15.00. The firm has a market capitalization of C$924.52 million, a PE ratio of -12.08, a P/E/G ratio of 0.56 and a beta of 0.06. The company’s 50-day moving average is C$10.10 and its 200 day moving average is C$11.83.

Cascades (TSE:CAS) last posted its earnings results on Thursday, February 22nd. The company reported C$0.05 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). Cascades had a negative return on equity of 2.86% and a negative net margin of 1.64%. The business had revenue of C$1.14 billion during the quarter, compared to analyst estimates of C$1.22 billion. As a group, research analysts predict that Cascades will post 0.8298611 earnings per share for the current fiscal year.

Cascades Increases Dividend

The business also recently declared a 1 dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 21st were paid a dividend of $0.48 per share. The ex-dividend date was Thursday, March 21st. This represents a dividend yield of 4.66%. This is a positive change from Cascades’s previous 1 dividend of $0.12. Cascades’s dividend payout ratio (DPR) is presently -63.16%.

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.