Cascades (TSE:CAS) Sets New 52-Week High Following Analyst Upgrade

Cascades Inc. (TSE:CAS)’s share price reached a new 52-week high during trading on Tuesday after National Bank Financial raised their price target on the stock from C$13.00 to C$17.00. National Bank Financial currently has a sector perform rating on the stock. Cascades traded as high as C$17.53 and last traded at C$16.88, with a volume of 2172594 shares. The stock had previously closed at C$17.02.

CAS has been the subject of several other reports. Scotiabank reduced their target price on Cascades from C$16.75 to C$14.50 and set an “outperform” rating for the company in a report on Monday, April 13th. Canadian Imperial Bank of Commerce upgraded Cascades from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Desjardins boosted their price objective on Cascades from C$13.00 to C$19.00 and gave the stock a “hold” rating in a research report on Monday. TD upped their price objective on Cascades from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada raised their target price on Cascades from C$15.00 to C$18.00 and gave the company an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$15.93.

Cascades Stock Up 1.4%

The stock’s 50-day moving average price is C$12.48 and its two-hundred day moving average price is C$11.97. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 111.08. The stock has a market capitalization of C$1.76 billion, a P/E ratio of 13.97, a P/E/G ratio of 0.56 and a beta of 1.04.

Cascades (TSE:CAS) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.24 EPS for the quarter. Cascades had a net margin of 2.64% and a return on equity of 7.24%. The company had revenue of C$1.22 billion for the quarter. As a group, research analysts expect that Cascades Inc. will post 1.2959309 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 3rd. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. Cascades’s dividend payout ratio is presently 38.71%.

Cascades Company Profile

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.