Cascades Inc. (TSE:CAS) Given Average Recommendation of “Moderate Buy” by Brokerages

Cascades Inc. (TSE:CAS) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$13.93.

A number of equities research analysts recently issued reports on the company. Scotiabank reduced their price target on Cascades from C$16.75 to C$14.50 and set an “outperform” rating on the stock in a research report on Monday, April 13th. National Bank Financial lowered their price objective on shares of Cascades from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada lowered their target price on Cascades from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Canadian Imperial Bank of Commerce raised shares of Cascades from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Desjardins cut their price objective on Cascades from C$15.00 to C$13.00 and set a “hold” rating on the stock in a research note on Monday, April 13th.

Cascades Stock Performance

Shares of TSE:CAS opened at C$13.47 on Monday. The business has a 50 day moving average of C$11.69 and a 200-day moving average of C$11.83. The stock has a market cap of C$1.36 billion, a PE ratio of 13.47, a P/E/G ratio of 0.56 and a beta of 1.03. Cascades has a 12-month low of C$8.90 and a 12-month high of C$14.27. The company has a quick ratio of 0.86, a current ratio of 1.53 and a debt-to-equity ratio of 113.03.

Cascades (TSE:CAS) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.07 EPS for the quarter. Cascades had a return on equity of 5.95% and a net margin of 2.15%.The firm had revenue of C$1.12 billion for the quarter. As a group, equities research analysts forecast that Cascades will post 1.2959309 earnings per share for the current year.

Cascades Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, June 4th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. Cascades’s dividend payout ratio is presently 48.00%.

Insider Activity

In related news, insider Laurent Lemaire acquired 23,302 shares of Cascades stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of C$10.52 per share, with a total value of C$245,137.04. Following the transaction, the insider directly owned 7,837,637 shares in the company, valued at C$82,451,941.24. This represents a 0.30% increase in their position. Insiders own 23.78% of the company’s stock.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.