Cascades (TSE:CAS) Hits New 1-Year Low at $9.23

Cascades Inc. (TSE:CAS)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$9.23 and last traded at C$9.17, with a volume of 101031 shares trading hands. The stock had previously closed at C$9.27.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. National Bankshares dropped their price objective on shares of Cascades from C$13.50 to C$11.00 in a research note on Thursday, April 11th. Desjardins decreased their price objective on Cascades from C$14.50 to C$13.00 and set a “hold” rating on the stock in a research report on Thursday, March 28th. CIBC dropped their target price on Cascades from C$14.00 to C$12.00 in a report on Thursday, April 11th. TD Securities decreased their price target on Cascades from C$12.00 to C$11.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada dropped 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$11.60.

Cascades Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 108.76. The business has a 50 day moving average price of C$10.59 and a 200 day moving average price of C$11.92. The stock has a market cap of C$935.60 million, a P/E ratio of -12.22, a PEG ratio of 0.56 and a beta of 0.06.

Cascades (TSE:CAS) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.25). The business had revenue of C$1.14 billion for the quarter, compared to analysts’ expectations of C$1.22 billion. Cascades had a negative net margin of 1.64% and a negative return on equity of 2.86%. As a group, sell-side analysts expect that Cascades Inc. will post 0.8298611 EPS for the current 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 issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This is a boost from Cascades’s previous 1 dividend of $0.12. This represents a dividend yield of 4.66%. Cascades’s dividend payout ratio 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.